Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes all federal grant activity of Heart of Oregon Corps, Inc. under programs of the federal government for the year ended September 30, 2024. The information in this schedule is presented in accordance with the requirements of the 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 Heart of Oregon Corps, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Heart of Oregon Corps, Inc.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Heart of Oregon Corps, Inc. has elected to use the 10 percent de minimis indirect cost rate (15% after October 1, 2024) as allowed under the Uniform Guidance unless otherwise restricted by the grant agreements.