Notes to SEFA
Accounting Policies: (1) GENERAL INFORMATIONThe accompanying schedule of expenditures of federal awards presents the activities in all the federalfinancial assistance programs of The Lincoln Center for Family and Youth. All financial assistance receiveddirectly from federal agencies as well as federal financial assistance passed through other governmentalagencies or nonprofit organizations are included on the schedule.(2) BASIS OF ACCOUNTINGThe accompanying schedule of expenditures of federal awards is presented using the accrual basis ofaccounting. The amounts reported in this schedule as expenditures may differ from certain financialreports submitted to federal funding agencies due to those reports being submitted on either a cash ormodified accrual basis of accounting.(3) RELATIONSHIP TO BASIC FINANCIAL STATEMENTSFederal awards expenditures reported in the basic financial statements may differ from the expendituresreported in the schedule of expenditures of federal awards due to the expenditures exceeding grant orcontract budget limitations which are not included as federal awards.(4) INDIRECT COSTSThe Lincoln Center for Family and Youth has not elected to use the 10-percent de minimus indirect costrate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.