Notes to SEFA
Title: RECLASSIFICATION OF SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in the Uniform Guidance, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. The Entity has elected not to use the 10 percent de minimis indirect rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Consistent with managements policy, federal awards recorded on this schedule does not contain federal amounts (federal award fees) that are not federal grants for purposes of the schedule of federal awards. However these amounts are included as federal government contracts on the consolidated statement of activities. The Entity received federal award fees of $341,247 during the year. As a result, the schedule does not agree to the federal government contract revenue in the statement of activities as presented in the Entitys audited consolidated financial statements as of December 31, 2022.