Notes to SEFA
Title: Note 2Summary of significant accounting policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of United Way of Greenville County, Inc. (the United Way) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Basis of Accounting Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable. Indirect Cost Rate The United Way has elected not to use the 10% de minimum indirect cost rate as allowed under the Uniform Guidance.