Notes to SEFA
Accounting Policies: (a)The accompanying schedule of expenditures of federal awards and state financial assistance has been prepared on the accrual basis of accounting. Expenditures are subject to audit by the granting agency and, in the opinion of management, disallowed costs, if any, will not have a material effect on Boys Town's federal programs and state projects. (b) Federal award expenditures consist of direct and indirect costs. Boys Town has provisional rates for organized research and other sponsored activities that have been approved by the U.S. Department of Health and Human Services effective through December 31, 2022. (c) Child Welfare expenditures represent contracts with states and placement agencies to provide services to at-risk youth and their families. Boys Town has been determined to be a subrecipient under these arrangements by the granting agency. Expenditures reported within the schedule represent the percentage of contract funded by the specific federal program as communicated by the granting agency.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.