Notes to SEFA
Title: OTHER EXPENDITURES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of Futures Unlimited, 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).
De Minimis Rate Used: Y
Rate Explanation: Futures Unlimited, Inc. has elected to use the 10% de minimis indirect cost rate allowed under Section 200.414(f) of the Uniform Guidance.
The Organization did not receive any federal awards in the form of noncash assistance, insurance, loans, or loan guarantees and incurred no expenditures in relation thereof for the year ended June 30, 2023.