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 cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Arab-
American and Chaldean Council has elected to not use the 10-percent de minimis indirect cost rate allowed
under the Uniform Guidance. The Council does not pass-through federal funds.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant
activity of Arab-American and Chaldean Council under programs of the federal government for the year ended
September 30, 2023. The information in this Schedule is presented 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). Because the schedule presents only a selected portion of
the operations of Arab-American and Chaldean Council, it is not intended to and does not present the financial
position, changes in net assets or cash flows of Arab-American and Chaldean Council.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 to reimbursement. Negative amounts (if any) shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Arab-
American and Chaldean Council has elected to not use the 10-percent de minimis indirect cost rate allowed
under the Uniform Guidance. The Council does not pass-through federal funds.
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 to reimbursement. Negative amounts (if any) shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available. Arab-
American and Chaldean Council has elected to not use the 10-percent de minimis indirect cost rate allowed
under the Uniform Guidance. The Council does not pass-through federal funds.
Title: RECONCILIATION WITH AUDITED FINANCIAL STATEMENTS
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 to reimbursement. Negative amounts (if any) shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Arab-
American and Chaldean Council has elected to not use the 10-percent de minimis indirect cost rate allowed
under the Uniform Guidance. The Council does not pass-through federal funds.
The following summary reconciles total federal awards with the audited financial statements for the year ended
September 30, 2023:
Total federal awards per the schedule of
expenditures of federal awards $ 5,288,232
Add non-federal awards contained
in the audited financial statements 12,563,172
Total contract revenues per audited financial statements $ 17,851,404