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 on the Uniform guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: People For People has not elected to use the 10% de minimis indirect cost rate. The organization has used the cost rate required by the grant funders
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal activity of People For People uder programs of the federal govenments for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirments of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of People For People, it is not intended to and does not present the financial position, changes in net assets, or cash flows of People For People