Notes to SEFA
The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of the Organization. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. All federal financial assistance received directly from federal agencies is included on the schedule of expenditures of federal awards. Because the schedule presents only a selected portion of the operations of the Organization, it’s not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
One federal award in the amount of $135,843 was awarded to sub-recipients, of this amount, $39,529 was expended in the current year.
The regulations and guidelines governing the preparation of federal financial reports vary by Federal agency and among programs administered by the same agency. Accordingly, the amounts reported in the federal financial reports do not necessarily agree with the amounts reported in the accompanying schedule of expenditures of federal awards, which is prepared on the accrual basis explained in Note 2.
Dollar threshold used to distinguish between Type A and Type B programs is $1,000,000. Single Audit requirement is $1,000,000.