Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the Organization under programs of the federal government as of and for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirements of the 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 of the Organization, it is not intended to and does not present the financial position, change in net assets or cash flows of the Organization.
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, Audit of States, Local Governments and Not for Profit Organizations wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Organization has elected to use the ten percent (10%) percent de minimis indirect cost rate allowed under the Uniform Guidance.
Federal program expenditures are reported in the statement of functional expenses as program expenses. In certain programs, the expenditures reported in the financial statements may differ due to capitalization of assets and matching or in-kind contributions.