Notes to SEFA
Accounting Policies: Basis of presentation The schedules of expenditures of federal and state awards are prepared on the accrual basis of accounting. The information in these schedules 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) and State of Texas Single Audit Circular. Federal and state expenditures include allowable costs funded by federal and state grants. Allowable costs are subject to the cost principles of the Uniform Guidance and the State of Texas Uniform Grant Management Standards, and include costs that are recognized as expenses in United Ways financial statements in conformity with generally accepted accounting principles. United Way has not elected to use the 10% de minimus cost rate for indirect costs. United Way does not have any subrecipients.Because the schedules present only a selected portion of the operations of United Way, they are not intended to and do not present the financial position, changes in net assets, or cash flows of United Way.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.