Notes to SEFA
The accompanying schedule of expenditures of federal awards and state financial assistance (the Schedule) includes the federal grant activity and state financial assistance of the Areawide Council of Aging of Broward County, Inc., under programs of the federal government and the State of Florida for the year ended December 31, 2025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance) and Chapter 10.650, Rules of the Auditor General (Chapter 10.650), respectively. Because the Schedule presents only a selected portion of the operations of Areawide Council of Aging of Broward County, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Areawide Council of Aging of Broward County, Inc.
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, Chapter 10.650, and the laws and regulations of the State of Florida and wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Areawide Council of Aging of Broward County, Inc. has elected not to use the 15% de minimis indirect cost rate allowed under the Uniform Guidance.
Areawide Council of Aging of Broward County, Inc. passed through $23,800,604 in awards to subrecipients during the year ended December 31, 2025. The amount is reflected in the statement of functional expenses as subrecipients awarded.