Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Benefits in Action (BIA) under programs of the federal government 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 BIA, it is not intended to and does not present the financial position, changes in net assets, or cash flows of BIA.
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.
BIA has not elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
The financial statements include federal funding received from certain programs which are not subject to continuing compliance requirements. For the year ended December 31, 2025, the financial statements include approximately $77,111 of Medicare/Medicaid federal funds which are not subject to continuing compliance requirements of Title 2 U.S. CFR Part 200, and are not included in the schedule.