Notes to SEFA
The accompanying schedules of expenditures of federal awards and state financial assistance (the "Schedules")include the federal and state award activity of Aids Resource Foundation for Children, Inc. , Inc. and Affiliates (the"Agency") under programs of the federal and state government for the year ended June 30, 2025 . The informationin these Schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal RegulationsPart 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance") and the State of New Jersey, Department of Treasury, OMB Policy Circular 25-12-OMB.Because the Schedules present only a selected portion of the operations of the Agency, they are not intended toand do not present the financial position, changes in net position, or cash flows of the Agency.
Expenditures reported on the Schedules are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance and State of New Jersey, Department ofTreasury, OMB Policy Circular 25-12-OMB, wherein certain types of expenditures are not allowable or are limited asto reimbursement.
AIDS Resource Foundation for Children, Inc. and Affiliates have not previously received a negotiated cost rate andhave not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Agency has provided no federal awards to subrecipients for the year ended June 30, 2025 .