Centros Sor Isolina Ferré, Inc. (The Centers) was founded in 1969 by Sister Isolina Ferré, M.S.B.T., with a group of civic and religious leaders who joined efforts to lead impoverished communities in Ponce towards their full development.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Centers and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of federal financial reports and in the combined financial statements, and is not intended to, and does not present, the financial position, changes in net assets, or cash flows of Centros Sor Isolina Ferré, Inc.
(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) Expenditures for certain awards include indirect costs, relating primarily to facilities operation and maintenance, general, divisional, and departmental administrative services, which are allocated to direct cost objectives (including federal award programs) based on negotiated formulas with individual grantors.
The Centers used a combination of the 10% de minimis indirect cost rate as allowed under the Uniform Guidance and a negotiated indirect cost rate of 23.5% with the Administration of Children and Families for the Head Start program.
The Federal Assistance Number is a five-digit number assigned in the awarding document for all federal assistance award mechanisms, including federal grants and cooperative agreements. The first two digits reflect the major federal agency, and the final three digits following the decimal indicate the federal program funding the project. Assistance listings are detailed public descriptions of federal programs that provide grants, loans, scholarships, insurance, and other types of assistance awards.
The Uniform Guidance requires the schedule to include the name of the pass-through entity and identifying number assigned by the pass-through entity for federal awards received as a subrecipient. Numbers identified as N/AV are not available. The Centers have included the names it uses internally for certain grants to facilitate the identification of federal programs by pass-through agencies.
The information included in the schedule may not fully agree with other federal award reports submitted directly to federal granting agencies.