Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes theaward activity of Living Opportunities of DePaul, Inc. under programs of the federalgovernment for the year ended December 31, 2022, and has been prepared in accordancewith accounting principles generally accepted in the United States. The information in theSchedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of Living Opportunities of DePaul, Inc., it is not intended toand does not present the financial position, changes in net assets, or cash flows of LivingOpportunities of DePaul, Inc.Amounts included in the accompanying schedule of expenditures of federal awards are actualexpenditures for the year ended December 31, 2022. Differences between amounts includedin the accompanying schedule of expenditures of federal awards and amounts reported tofunding agencies for these programs result from report timing.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.