Notes to SEFA
Accounting Policies: Scope of PresentationThe accompanying schedule presents the expenses incurred by Latino Coalition for Community Leadership that are reimbursable under federal programs of federal financial assistance.Basis of AccountingExpenditures 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.
De Minimis Rate Used: N
Rate Explanation: Latino Coalition for Community Leadership has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Organization negotiated a provisional indirect cost rate of 20.22% for the year ended June 30, 2022.