Notes to SEFA
The accompanying Schedule of Expenditures of Federal (the "Schedule") includes the federal award activity of Buckelew Programs ("Buckelew") under the programs of the Federal government for the year ended June 30, 2025. The Schedule is presented in accordance with 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 Buckelew, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Buckelew.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR 200, Subpart E (Cost Principles), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Buckelew did not provide any federal awards to subrecipients.
Buckelew did not elect to use the 15 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Schedule includes the value of new loans made or received during the year plus the beginning of the period balance of loans from prior years for which the Federal government imposes continuing compliance requirements. The balances of loans for which continuing compliance was required amounted to $122,754 as of June 30, 2025.