Notes to SEFA
The accompanying schedule of expenditures of federal, state and local awards (the “Schedule”) includes the federal, state and local award programs administered by all entities included in the Communities in Schools of Philadelphia, Inc d/b/a Launch of Philadelphia’s financial statements. 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, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of Communities in Schools of Philadelphia Inc. d/b/a Launch of Philadelphia
Expenditures reported on the Schedule are reported on the accrual basis of accounting. The amounts reported in this Schedule as expenditures may differ from certain financial reports submitted to funding agencies because those reports may be submitted on either a cash or modified accrual basis of accounting
Communities in Schools of Philadelphia, Inc. d/b/a Launch of Philadelphia elected to use the 10% de minimis indirect cost rate unless the contract specified a different rate.