Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of Federal award programs administered by Elev8 Baltimore, Inc., which is described in Note 1 to the organization’s accompanying financial statements. The Federal awards included in the schedule were passed through from other government agencies.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Indirect costs may be included in the reported expenditures to the extent they are included in the Federal financial reports used as the source for the data presented. Elev8’s policy is not to charge Federal award programs with indirect costs, or to charge indirect costs to certain federal award programs, based upon a rate established by the State of Maryland. Elev8 has elected to use the de minimis indirect rate allowed under the Uniform Guidance (currently 10% at June 30, 2025) applied to overall expenditures.
Matching costs, such as Elev8’s share of certain program costs, are not included in the reported expenditures.
No amounts were provided to subrecipients.