Notes to SEFA
Single audit testing procedures were performed for program transactions occurring during the year ended December 31, 2025. Federal financial assistance expenditures during the year did meet the criteria set forth in the Single Audit Act and Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principle, and Audit Requirements for Federal Awards (Uniform Guidance). Grant terms are indicated in the Schedule of Expenditures of Federal Awards.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) has been prepared on the accrual basis of accounting. Grant revenues are recorded for financial reporting purposes when the Center has met the qualifications for the respective grants. Costs incurred in programs partially funded by federal grants are applied against federal grant funds to the extent of revenue available when they are properly applied to the grant.
The Center has not elected to use the 15 percent de minimis indirect cost rate.