Notes to SEFA
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 Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Foundation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Instead, the Foundation has obtained a federal approved indirect rate that is approved annually.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of National Kidney Foundation of Michigan, Inc. (the Foundation) under programs of the federal government for the year ended June 30, 2023. 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). Because the Schedule presents only a selected portion of the operations of the Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Foundation.
Title: Reconciliation to the Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Foundation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Instead, the Foundation has obtained a federal approved indirect rate that is approved annually.
The revenue relating to the schedule of expenditures of federal awards is included in the basic financial statements with private and government grants as follows: Private and government awards: $9,740,153; Non federal awards: $1,915,056; Federal awards $7,825,097.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Foundation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Instead, the Foundation has obtained a federal approved indirect rate that is approved annually.
No amounts were provided to subrecipients.