Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Acción Social de Puerto Rico, Inc. and is presented using the accrual basis of accounting. The information in this schedule is presented in accordance with the requirement 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 presents only a selected portion of the operations of Acción Social de Puerto Rico, Inc. it is not intended to and does not present the financial position, changes in net assets, or cash flows of Acción Social de Puerto Rico, Inc.
The reconciliation of expenses in the statement of activities to the Schedule of Expenditures of Federal Awards is as follows: Expenditures per the statement of activities-$ 15,541,425 Non-federal expense-(364,352) Expenditures per Schedule of Expenditures of Federal Awards-$ 15,177,073
The Organization did not elect to use the ten (10) percent of the minimum indirect cost rate allowed under the Uniform Guidance.