Notes to SEFA
Title: 1
Accounting Policies: 1. The purpose of the Schedule of Expenditures of Federal Awards is to present a summary of the activities of United Way for the year ended March 31, 2023, which were funded by the U.S. Government.
Because the Schedule presents only a selected portion of the activities of United Way, it is not intended to and does not present the financial position, results of operations or changes in net assets of United Way. 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. Therefore, some amounts presented in the schedule above may differ from amounts presented in, or used in the preparation of, the accompanying consolidated financial statements.
The Schedule is prepared on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. CFR Part 230, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowed or are limited as to reimbursement. United Way has elected to use the 10 percent de minimus indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: United Way has elected to use the 10 percent de minimus indirect cost rate as allowed under Uniform Guidance.
1. The purpose of the Schedule of Expenditures of Federal Awards is to present a summary of the activities of United Way for the year ended March 31, 2023, which were funded by the U.S. Government.
Because the Schedule presents only a selected portion of the activities of United Way, it is not intended to and does not present the financial position, results of operations or changes in net assets of United Way. 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. Therefore, some amounts presented in the schedule above may differ from amounts presented in, or used in the preparation of, the accompanying consolidated financial statements.
The Schedule is prepared on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. CFR Part 230, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowed or are limited as to reimbursement. United Way has elected to use the 10 percent de minimus indirect cost rate as allowed under Uniform Guidance.