Notes to SEFA
The accompanying schedule of expenditures of federal awards and state financial assistance (the “Schedule”) includes the federal and state grant activities of St. Vincent de Paul CARES, Inc. (the “Organization”). The information in the 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) and Chapter 10.650, Rules of the Auditor General. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the statements of financial position, activities, functional expenses or cash flows of the Organization. Some amounts presented in the schedule may differ from amounts presented or used in the preparation of the consolidated financial statements. 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 and Chapter 10.650, Rules of the Auditor General, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Organization negotiates the allowable indirect cost rate on direct and indirect funding received from state or local government and non-governmental sources with the awarding agency. For federal awards received, the Organization has elected to use the 10 percent de minimis indirect cost rate for grant agreements entered into prior to October 1, 2024 and the 15 percent de minimis indirect cost rate for grant agreements, where applicable, entered into after October 1, 2024.
The following loan and loan guarantee programs have outstanding balances as of September 30, 2025: