Notes to SEFA
Accounting Policies: Note 1:Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal and State of Georgia award activity of Georgia Cooperative Services for the Blind, Inc. (the Organization) under programs of the Federal government for the year ended June 24, 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), and the grantor agencies. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
De Minimis Rate Used: Y
Rate Explanation: Note 2:Summary of Significant Accounting Policies(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. This method is consistent with the preparation of the Organizations financial statements. Such expenditures 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. The Organization has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.(2) The Organization did not receive any non-cash awards during the fiscal year.