Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Opportunity Development, Inc. dba CIL Jacksonville (the Center). 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 represents only a selected portion of the operations of the Center, it is not intended to and does not present the financial position, change in net assets or cash flows of the Center.
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. The Center has elected to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance.