Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of CenterState Corporation for Economic Opportunity and Affiliates (CEO and Affiliates) and is presented on the accrual basis of accounting. 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). For the purposes of the schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements, direct appropriations, loans and loan guarantees, and other noncash assistance. Because the schedule presents only a select portion of the activities of CEO and Affiliates, it is not intended to, and does not present the consolidated statements of financial position, statement of activities and changes in net assets or cash flows of CEO and Affiliates.
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.
During the year ended December 31, 2025, CEO and Affiliates passed through federal awards totaling $207,156 to subrecipients under the Regional Technology and Innovation Hubs program. These amounts are included in the accompanying Schedule of Expenditures of Federal Awards.
CEO and Affiliates has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance and does not have a current negotiated indirect cost rate agreement