Notes to SEFA
Title: GENERAL INFORMATION
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance is presented using the accrual basis of accounting. The amounts reported in the schedule as expenditures may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on either cash or a modified cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate as covered in section 200.414 in Uniform Guidance.
The accompanying schedule of expenditures of federal awards presents the activities in all federal awards of New York Statewide Senior Action Council, Inc.All financial assistance received directly from federal agencies as well as financial assistance passed through other governmental agencies or nonprofit organizations are included on the schedule.
Title: BASIS OF ACCOUNTING
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance is presented using the accrual basis of accounting. The amounts reported in the schedule as expenditures may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on either cash or a modified cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate as covered in section 200.414 in Uniform Guidance.
The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The amounts reported in the schedule as expenditures may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either cash or a modified cash basis of accounting.
Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance is presented using the accrual basis of accounting. The amounts reported in the schedule as expenditures may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on either cash or a modified cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate as covered in section 200.414 in Uniform Guidance.
The accompanying schedule of expenditures of federal awards (“the Schedule”) includes the federal award activity of New York Statewide Senior Action Council, Inc.under programs of the federal government for the year ended March 31, 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 Organization it is not intended and does not present the financial position, changes in net assets, or cash flows of New York Statewide Senior Action Council, Inc.
Title: RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance is presented using the accrual basis of accounting. The amounts reported in the schedule as expenditures may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on either cash or a modified cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate as covered in section 200.414 in Uniform Guidance.
Federal expenditures are reported on the statements of functional expenses as program services. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the schedule of expenditures of federal awards due to program expenditures exceeding grant or contract budget limitations or Organization matching or in-kind contributions which are not included as federal awards.
Title: INDIRECT COST
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance is presented using the accrual basis of accounting. The amounts reported in the schedule as expenditures may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on either cash or a modified cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate as covered in section 200.414 in Uniform Guidance.
The Organization does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate as covered in section 200.414 in Uniform Guidance.
Title: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance is presented using the accrual basis of accounting. The amounts reported in the schedule as expenditures may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on either cash or a modified cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate as covered in section 200.414 in Uniform Guidance.
The Organization provided no federal or state awards to sub recipients for the year ended March 31, 2023.