Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Operation Warm, Inc. (Operation Warm) under programs of the federal government for the year ended March 31, 2026 and has been prepared in accordance with accounting principles generally accepted in the United States of America. 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 Operation Warm, it is not intended to, and does not, present the financial position, change in net assets, or cash flows of Operation Warm.
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.
Operation Warm has elected to use the 15% de minimis indirect cost rate as allowed under the Uniform Guidance.