Title: 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 contained in the Uniform Guidance, wherein certain types of expenditures are not allowed, or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Costs are charged as direct costs
The Schedule of Expenditures of Federal Awards includes the federal grant activity of Boys & Girls Club of Lake County under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with requirements of the 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 Boys & Girls Club of Lake County, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Boys & Girls Club of Lake County.
Title: SUMMARY OF ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported 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 allowed, or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Costs are charged as direct costs
Expenditures reported on the Schedule are reported 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 allowed, or are limited as to reimbursement.
Title: INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported 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 allowed, or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Costs are charged as direct costs
Boys & Girls Club of Lake County has elected not to use a 10 percent de minimis indirect rate as allowed under the Uniform Guidance.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported 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 allowed, or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Costs are charged as direct costs
Boys & Girls Club of Lake County did not provide federal awards to subrecipients during the year ended December 31, 2022.
Title: FEDERAL LOANS
Accounting Policies: Expenditures reported on the Schedule are reported 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 allowed, or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Costs are charged as direct costs
Boys & Girls Club of Lake County did not have any federal loans or loan guarantees outstanding for the year ended December 31, 2022.
Title: DONATED PERSONAL PROTECTIVE EQUIPMENT (PPE) (UNAUDITED)
Accounting Policies: Expenditures reported on the Schedule are reported 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 allowed, or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Costs are charged as direct costs
Boys & Girls Club of Lake County did not receive any federally donated PPE during the year ended December 31, 2022.