Notes to SEFA
Expenditures reported on the schedule of expenditures of federal awards (the “Schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (“Uniform Guidance”), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The accompanying Schedule includes the federal award activity of Grand Street Settlement, Inc. (the “Settlement”) under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Settlement, it is not intended to and does not represent the financial position, changes in net assets or cash flows of the Settlement.
For the year ended June 30, 2025, the Settlement did not have any non-cash awards, mortgages, or loan funds that should be included in the federal expenditures presented in this Schedule.
The Settlement has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.