Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Chinese-American Planning Council, Inc. and Affiliates (the “Organization”) for the year ended June 30, 2025. The information in the Schedule is presented in accordance with 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”). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to, and does not, present the consolidated financial position, changes in net assets or cash flows of the Organization.
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 limited as to reimbursement.
Included in the Schedule are expenditures for ALN#84.425 - Education Stabilization Fund amounting to $3,018,762 where funds from regular appropriations were blended, including State and City funds.
The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.