Notes to SEFA
Title: Reconciliation to Statement of Activities
Accounting Policies: The Schedule of Expenditures of Federal Awards and State Financial Assistance summarized the expenditures of Quinco under programsof the federal and state governments for the year ended June 30, 2022. The schedule is presented using the accrual basis of accounting. U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Quinco has elected not to use the 10-percent de minims indirect cost rate allowed under the Uniform Guidance.Note 3 - Reconciliation to Statement of Activities Total Federal Awards (Assistance Listing 93.948) expended per SEFA $119,777 COVID-19 - Provider Relief Funds (93.948) earned per the financial statements during the year ended June 30, 2021 (119,777)Total Federal award amounts included in the Statement of Activities for the year ended June 30, 2022 (93.948). $-