Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Community Development Venture Capital Alliance under programs of the federal government for the year ended December 31, 2024. 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 Community Development Venture Capital Alliance, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Community Development Venture Capital Alliance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Expenditures to subrecipients are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Community Development Venture Capital Alliance has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.