Notes to SEFA
Accounting Policies: NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESBasis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal award activity of the Clifford W. Beers Guidance Clinic, Inc. and Subsidiaries(collectively, the Corporation), under programs of the federal government for the year endedJune 30, 2022. The information in the Schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance).Because the Schedule presents only a selected portion of the operations of the Corporation,it is not intended to, and does not, present the financial position, changes in net assets orcash flows of the Corporation.Basis of AccountingExpenditures reported on the Schedule are reported using the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the UniformGuidance for all awards. Under these principles certain types of expenditures are notallowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.