Notes to SEFA
Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of D.M. Ministries Community Development Corporation (DMMCDC) 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 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 DMMCDC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of DMMCDC.
Relationship to Financial Statements Expenditures incurred under the Federal award programs were reported in the basic financial statements.
Summary of Significant Accounting Policies 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. Pass-through entity identifying numbers are presented where available.
Indirect Cost Rate DMMCDC has elected not to use a 15% de minimis indirect cost rate as allowed under the Uniform Guidance.
Subrecipients DMMCDC did not provide federal awards to subrecipients.