Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the activity of the HOUSE OF RUTH presented on GAAP. The information in the 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 of Federal Awards. Therefore, some amounts in this schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements. There were no non-cash assistance recorded, no federal insurance noted, and no loans or loan guarantees outstanding during the audit year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.