Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: 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 toreimbursement. The Organization has a negotiated indirect cost rate that they use rather than the 10% de minimis rate under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
HOME INVESTMENT PARTNERSHIP PROGRAM (14.239) - Balances outstanding at the end of the audit period were 454500.
Title: BASIS OF PRESENTATION
Accounting Policies: 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 toreimbursement. The Organization has a negotiated indirect cost rate that they use rather than the 10% de minimis rate under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards is prepared on the accrualbasis of accounting. The purpose of the schedule of expenditures of federal awards (the Schedule) is to present a summary of those activities of Lutheran Social Service of Minnesota and Affiliates (the Organization) that have been financed by the United States Government (federal awards). Federal awards received directly from federal agencies are included in the Schedule.Additionally, all federal awards passed through from other entities have been included on the Schedule. Although the Organization is required to match certain grants, as defined in the grants, no such matching is included in the Schedule.The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 the Organization, it is not intended to and does not present the consolidated financial position, statement of activities, or cash flows of the Organization.
Title: IN-KIND SUPPORT
Accounting Policies: 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 toreimbursement. The Organization has a negotiated indirect cost rate that they use rather than the 10% de minimis rate under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The following shows the amount of in-kind support for volunteer hours obtained for theSenior Nutrition programs, Assistance Listing Numbers 93.045/93.053, which is required bythe grant. (See Chart in Note C of the Notes to SEFA)