Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The purpose of the accompanying schedule of expenditures of federal awards (the Schedule) is to present, insummary form, total federal award expenditures of The Recovery Research Network, Inc. (the Foundation) forthe period ended June 30, 2022 which have been financed under the various federal award programs. TheSchedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR)Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Therefore, certain amounts presented in this Schedule may differ from amountspresented in the basic financial statements.
Title: Loan and Loan Guarantee Programs
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no loans or loan guarantee programs as of or for the period January 1, 2022 through June 30,2022.
Title: Contingencies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts received or receivable from grantor agencies are subject to audit and adjustment by those agencies.Any disallowed claims including amounts already received might constitute a liability of the Foundation for thereturn of those funds. In the opinion of management, all grant expenditures were in compliance with theterms of the grant agreements and applicable laws and regulations.