Notes to SEFA
Title: FEDERAL AWARDS RECONCILIATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Luther F. Carson Four Rivers Center, 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal revenues reflected in the statement of activities include Payroll Protection Program funds which are not included in the Schedule of Expenditures of Federal Awards. Federal revenues as reported on the Statement of Activities$2,074,248Less Carson-Myre Foundation Private Grant(330,000)Less Payroll Protection Program (275,948)Less State and local grants (47,200)TOTAL FEDERAL AWARDS $1,421,100