Notes to SEFA
Title: Contingency
Accounting Policies: Expenditures reported on the Schedule is reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, and/orOMB Circular A122, Cost Principles for NonProfit Organizations, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The grants and contracts amount received are subject to audit and adjustment. If any expenditures or expenses are disallowed by the grantor/contracting agencies as a result of such an audit, any claim for reimbursement to the grantor/contracting agencies would become a liability of Archways, Inc. In the opinion of management, all grant expenditures are in compliance with the terms of the grant/contract agreements and applicable federal and state laws and other applicable regulations.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule is reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, and/orOMB Circular A122, Cost Principles for NonProfit Organizations, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards(the Schedule) includes the federal awards of Archways, Inc. (the Organization) for the year ended June 30, 2022. The information in the Schedule of Expenditures of Federal Awards 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). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and doesnot present the financial position, changes in net position, or cash flows of the Organization.