Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of United Cerebral Palsy of New York City, Inc. d/b/a ADAPT Community Network and Affiliates (ADAPT) under programs of the federal government for the year ended June 30, 2025. The information in this 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 ADAPT, it is not intended to and does not present the financial position, changes in net assets, or cash flows of ADAPT.
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.
ADAPT has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures of federal awards are reported on the consolidated statement of activities and changes in net assets as operating expenses. In certain programs, the expenditures reported in the consolidated financial statements differ from the expenditures reported in the Schedule. The Schedule includes expenses in the amount of $1,336,866 within Federal Assistance Listing Number (ALN) 97.036, which were incurred in prior fiscal years and approved by the U.S. Department of Homeland Security and Emergency Services in fiscal year 2025.
ADAPT has evaluated subsequent events occurring after the consolidated financial statements date of June 30, 2025 through November 28, 2025, except for the report on the Schedule, for which the subsequent events date is March ___, 2026, which is the date these consolidated financial statements were available to be issued. No events arose during the period that would require adjustments or additional disclosures.