Notes to SEFA
Title: Note 1: 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 conained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited to reimbursement. Pass through identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Murphy Harpst Children's Center has not elected to use the 10% de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Murphy-Harpst Children's Centers, Inc. 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, Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Note 2: Contingencies
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles conained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited to reimbursement. Pass through identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Murphy Harpst Children's Center has not elected to use the 10% de minimis indirect cost rate.
Grant monies received and disbursed are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Management does not believe that such disallowance, if any, would have a material effect on its financial position. As of June 30, 2023 there were no material questioned or disallowed costs as a result of the grant audits in process or completed.
Title: Note 3: Other Information
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles conained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited to reimbursement. Pass through identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Murphy Harpst Children's Center has not elected to use the 10% de minimis indirect cost rate.
There were no endowments, insurance in effect, noncash assistance nor loan balances or guarantee programs for the year ended June 30, 2023.