Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, Cost principles for Non-
Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: 90Works has elected to use the 10 percent de minimis indirect cost rate which is allowed by the Uniform
Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal grant activity of the 90Works Inc., under programs of the Federal Government for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards, Audits of States, Local Governments, and Non-Profit Organizations.
Because this schedule presents only a selected portion of the operation of the 90Works, it is not intended
to and does not present the financial position, changes in net assets, or cash flows of the 90Works.