Notes to SEFA
Accounting Policies: 1. Reporting EntityCare Corps, Inc. dba Care Corps LifeHouse (the Organization) is a Nebraska nonprofitcorporation dedicated to providing services and assistance to those who aremost affected by poverty in Fremont. Care Corps LifeHouse meets the basic needsof housing, food, and clothing, along with case management, while connectingclients to partner agencies to provide supports an individual or family may needoutside of our scope of expertise. Programming includes an emergency shelter, afood pantry, a robust prevention program, six scattered-site housing programs, lifeskills and workforce development, and a voucher program through our thrift store.They also own and operate fifteen low-income rental units.2. Basis of AccountingThe schedule of expenditures of federal awards is presented on the accrual basis ofaccounting. 3. Basis of PresentationThe accompanying schedule presents expenditures paid for each federal awardprogram in accordance with the Office of Management and Budget (OMB) Title 2U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).Federal programs are reported as presented in the Catalog of Federal DomesticAssistance (CFDA), whenever possible.4. ContingenciesDuring the normal course of business, the Organization receives funds from theUnited States Government for program services. Substantially all of these fundsare subject to future audit by various federal and state agencies, however, it ismanagements opinion that resulting adjustments, if any, would not have a materialeffect upon the accompanying financial statements.
De Minimis Rate Used: Both
Rate Explanation: The auditee used the de minimis cost rate for some awards.