Notes to SEFA
The accompanying schedule of expenditures of federal awards ("SEFA") includes the federal award activity of the Organization under programs of the federal government for the year ended June 30, 2025. The information in the SEFA is presented in accordance iwth the requirments of the Uniform Guidance. Because the SEFA presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in the net assets, or cash flows of the Organization.
Expenditures reported on the SEFA 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 ate limited as to reimbursement.
The Organization has not alected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.