Notes to SEFA
Title: FEDERAL AND STATE AWARDS
Accounting Policies: THE CENTER'S GRANT FUNDS ARE ACCOUNTED FOR ON THE ACCRUAL BASIS OF ACCOUNTING. RECEIPTS ARE RECORDED WHEN EARNED AND AUTHORIZED UNDER THE GRANT REQUIREMENTS, AND EXPENDITURES ARE RECORDED AS THE AUTHORIZED GRANT COSTS ARE INCURRED.
De Minimis Rate Used: Y
Rate Explanation: THE AUDITEE USED THE DE MINIMIS COST RATE
DURING THE YEAR ENDED JUNE 30, 2022, OUACHITA CHILDREN'S YOUTH AND FAMILY SERVICES, INC. (THE CENTER) WAS THE RECIPIENT OF VARIOUS FEDERAL AND STATE GRANT FUNDS. FEDERAL FUNDS WERE RECEIVED EITHER DIRECTLY FROM THE FEDERAL AGENCY OR INDIRECTLY THROUTH THE STATE OF ARKANSAS OR OTHER PASS-THROUGH AGENCIES. STATE FUNDS WERE RECEIVED DIRECTLY FROM THE STATE AGENCIES.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - A. BASIS OF ACCOUNTING
Accounting Policies: THE CENTER'S GRANT FUNDS ARE ACCOUNTED FOR ON THE ACCRUAL BASIS OF ACCOUNTING. RECEIPTS ARE RECORDED WHEN EARNED AND AUTHORIZED UNDER THE GRANT REQUIREMENTS, AND EXPENDITURES ARE RECORDED AS THE AUTHORIZED GRANT COSTS ARE INCURRED.
De Minimis Rate Used: Y
Rate Explanation: THE AUDITEE USED THE DE MINIMIS COST RATE
THE CENTER'S GRANT FUNDS ARE ACCOUNTED FOR ON THE ACCRUAL BASIS OF ACCOUNTING. RECEIPTS ARE RECORDED WHEN EARNED AND AUTHORIZED UNDER THE GRANT REQUIREMENTS, AND EXPENDITURES ARE RECORDED AS THE AUTHORIZED GRANT COSTS ARE INCURRED.
Title: FEDERAL INDIRECT RATE
Accounting Policies: THE CENTER'S GRANT FUNDS ARE ACCOUNTED FOR ON THE ACCRUAL BASIS OF ACCOUNTING. RECEIPTS ARE RECORDED WHEN EARNED AND AUTHORIZED UNDER THE GRANT REQUIREMENTS, AND EXPENDITURES ARE RECORDED AS THE AUTHORIZED GRANT COSTS ARE INCURRED.
De Minimis Rate Used: Y
Rate Explanation: THE AUDITEE USED THE DE MINIMIS COST RATE
THE CENTER HAS ELECTED TO USE THE 10 PERCENT DE MINIMUS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.