Notes to SEFA
Title: Basis of Presentation
Accounting Policies: For purposes of the Schedule, expenditures of federal awards are recognized 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.
De Minimis Rate Used: N
Rate Explanation: Organization used the negotiated cost rate approved by its cognizant agency.
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of Catholic Charities of Tennessee, Inc. (the "Organization") 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Indireect Cost Rate
Accounting Policies: For purposes of the Schedule, expenditures of federal awards are recognized 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.
De Minimis Rate Used: N
Rate Explanation: Organization used the negotiated cost rate approved by its cognizant agency.
The Organization has elected to not use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Title: Non-cash assistance
Accounting Policies: For purposes of the Schedule, expenditures of federal awards are recognized 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.
De Minimis Rate Used: N
Rate Explanation: Organization used the negotiated cost rate approved by its cognizant agency.
There were no federal awards expended in the form of non-cash assistance and there were no loan guarantees outstanding at year end.