Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Seniors in Service of Tampa Bay, Inc. under programs of the federal government for the year ended December 31, 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 for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Seniors in Service of Tampa Bay, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Seniors in Service of Tampa Bay, 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Seniors in Service of Tampa Bay, Inc. has elected to use the 10 percent de minimis indirect cost rate, as permitted under Uniform Guidance, for grant agreements entered into prior to October 1, 2024, and up to the 15 percent de minimis indirect cost rate, where applicable, for grant agreements entered into after October 1, 2024.
The Organization had the following loan balances at December 31, 2025: