Notes to SEFA
Accounting Policies: Note A Basis of PresentationThe accompanying schedule of expenditures of federal awards includes the federal grant activity of the Life Styles, Inc. and Related Organizations and is presented in accordance with accounting principles generally accepted in the United States of America. 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 (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.