Notes to SEFA
activity of the Network under the programs of the Federal government and the State of North Carolina 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 (“the Uniform Guidance”). Because the schedule presents only a selected portion of the operations of the Network, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Network.
The Network has elected to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.
Expenditures reported in the SEFA are reported on the full 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.
ederally funded program activities. In accordance with the requirements of the Uniform Guidance, the Schedule of Expenditures of Federal Awards (SEFA) includes the total amount of federal awards expended by the Organization and the portion passed through to subrecipients.