Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principlese contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization used the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance for the Housing and urban Development direct awards and used other negotiated indirect rates for other programs.
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal grant activity of the Organization and is presented on the accrual basis of accounting. The information in the 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). The Schedule presents only a selected portion of the operations of the Organization and is not intended to and does not present the financial position, changes in net asses, or cash flows of the Organization.
Title: Summary of Significant Accounting Policies, Expenditures
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principlese contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization used the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance for the Housing and urban Development direct awards and used other negotiated indirect rates for other programs.
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, where in certain types of expenditures are not allowable or are limited as to reimbursement. The Organization used the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance for Housing and Urban Development direct awards and used other negotiated rates for other programs.
Title: Summary of Significant Accounting Policies, Pass-Through Awards
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principlese contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization used the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance for the Housing and urban Development direct awards and used other negotiated indirect rates for other programs.
Pass-through entity identifying numbers are presented where available.
Title: Summary of Significant Accounting Policies, Food Subsidies
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principlese contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization used the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance for the Housing and urban Development direct awards and used other negotiated indirect rates for other programs.
Nonmonetary assistance is reported in the Schedule at the fair value of the commodities received and disbursed. As of June 30, 2023, the Organization had no food commodities in inventory.
Title: Loans/Prior Year Expenditures
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principlese contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization used the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance for the Housing and urban Development direct awards and used other negotiated indirect rates for other programs.
The Schedule includes loan balances for prior years for which continuing compliance is required.