Notes to SEFA
Title: Basis Of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting as described in Note 2 to the consolidated financial statements. 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: Y
Rate Explanation: BEDS Plus, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all federal award programs of BEDS Plus, Inc. 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 (the Uniform Guidance). Therefore, some amounts presented
in the Schedule may differ from amounts presented in, or used in the preparation
of, the consolidated financial statements.
Title: Basis Of Accounting
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting as described in Note 2 to the consolidated financial statements. 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: Y
Rate Explanation: BEDS Plus, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.
Expenditures reported on the schedule are reported on the accrual basis of accounting as described in Note 2 to the consolidated financial statements. 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.
Title: Indirect Costs
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting as described in Note 2 to the consolidated financial statements. 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: Y
Rate Explanation: BEDS Plus, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.
BEDS Plus, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.