Notes to SEFA
Title: RECONCILIATION OF FEDERAL EXPENDITURES RELATED TO DISASTER GRANTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) presents the federal grant expenditures of the Diocesan Central Funds of the R.C. Diocese of Brooklyn, New York (the Diocesan Central Funds) for the year ended August 31, 2022. The Schedule was prepared under the accrual basis of accounting and is 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 (Uniform Guidance). For purposes of this Schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements and other noncash assistance, if any. Accordingly, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the fiscal 2022combined financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
In connection with Disaster Relief grants received, the Diocesan Central Funds is required to report in the accompanying Schedule all federal expenditures made that correspond to all obligations that had been made through August 31, 2022, regardless of which fiscal year(s) the expenditures were actually incurred. A reconciliation of the fiscal 2022 Diocesan Central Funds combined financial statements to the Schedule, follows. Total fiscal year 2022 Disaster Grant revenue reported in the combined financial statements $4,733,235. Add: Disaster Grant expenditures incurred during the current fiscal year for which obligations for government reimbursement will occur in a subsequent fiscal year 145,278. Fiscal Year 2022 amounts presented in the Schedule of Expenditures of Federal Awards $4,878,513