Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of New Centurions, Inc. under programs of the federal government for the year ended September 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 Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of New Centurions, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of New Centurions, Inc.
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.
New Centurions, Inc. has elected to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.