Notes to SEFA
Title: NOTE 1BASIS OF ACCOUNTING
Accounting Policies: Expenditures reported in 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 allowable or are limited as to reimbursement. The Organization has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant award activity of Planned Parenthood North Central States under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: NOTE 3RECONCILIATION OF SEFA AND FINANCIAL STATEMENTS
Accounting Policies: Expenditures reported in 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 allowable or are limited as to reimbursement. The Organization has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The financial statements reflect revenue recognized from the Provider Relief Fund of approximately $1,155,722 for the year ended June 30, 2021. The SEFA includes Provider Relief Funds of $1,155,722 that were received in Period 2 in accordance with the requirements of the compliance supplement for assistance listing number 93.498.