Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Expenditures reported on the Schedules are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, and/or OMB Circular A‐122, Cost Principles for Non‐Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedules of Expenditures of Federal Awards, Other State Funding and Local Financial Assistance (the “Schedules”) includes the federal awards, other state and local funding of Archways, Inc. (the “Organization”) for the year ended June 30, 2023. The information in the Schedule of Expenditures of Federal Awards 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 (Uniform Guidance). Because the Schedules present only a selected portion of the operations of the Organization, they are not intended to and do not present the financial position, changes in net position, or cash flows of the Organization.
Title: Note 4 - Contingency
Accounting Policies: Expenditures reported on the Schedules are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, and/or OMB Circular A‐122, Cost Principles for Non‐Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The grants and contracts amount received is subject to audit and adjustment. If any expenditures or expenses are disallowed by the grantor/contracting agencies as a result of such an audit, any claim for reimbursement to the grantor/contracting agencies would become a liability of Archways, Inc. In the opinion of management, all grant expenditures are in compliance with the terms of the grant/contract agreements and applicable federal and state laws and other applicable regulations.