Notes to SEFA
Accounting Policies: Basis of PresentationA.The accompanying schedule of expenditures of federal and state awards (Schedule) includes the federal and state award grant activity of the North Carolina Coalition Against Sexual Assault under programs of federal and state governments for the year ended June 30, 2022. 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). Because the Schedule presents only a selected portion of the operations of the Coalition, it is not intended t and does not present the financial position, changes in net assets, or cash flows of the Coalition.B.Summary of Significant Accounting PoliciesExpenditures 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 and OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.C.Indirect Cost RateThe Coalition has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.