Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Boys and Girls Club of North Alabama, Inc. 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of the Club, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Club. Therefore, some amounts presented in this schedule may differ from the amounts presented in or used in the preparation of the basic financial statements.
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. This method is consistent with the Club’s financial statements.
The Club has elected not to use the 15% de minimis indirect cost rate allowed under the Uniform Guidance.
The Club did not have any non-cash awards during the year.