Notes to SEFA
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the "Schedule") includes the federalaward activity of Bethany Early Learning Ministry under programs of the federal government for the yearended December 31, 2022. The information in this schedule is presented in accordance with therequirements 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 theSchedule presents only a selected portion of the operations of Bethany Early Learning Ministry, it is notintended to and does not present the financial position, changes in net assets, or cash flows of BethanyEarly Learning Ministry.NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entityidentifying numbers are presented where available. Per the major program requirements, Bethany EarlyLearning Ministry is awarded a 15% administration fee on centers served and a per meal served fee onhomes served.NOTE 3 SUB-RECIPIENTSThe Organization provided grants to approximately 70 licensed home day care providers and registeredday care ministries for carrying out the federal program.NOTE 4 INDIRECT COST RATEBethany Early Learning Ministry has elected not to use the 10% de minimus indirect cost rate allowedunder the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.