Audit 24720

Accounting Policies: Basis of presentation The accompanying schedule of expenditures of federal awards includes the federal award activity of Children & Families First Delaware Inc. under programs of the federal government for the year ended December 31, 2021. 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). Because the schedule presents only a selected portion of the operations of Children & Families First Delaware Inc., it is not intended to and does not present the financial position, change in net assets or cashflows of Children & Families First Delaware Inc. Summary of significant accounting principles Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Summary of significant accounting principles Children & Families First Delaware Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.- De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.