Notes to SEFA
Accounting Policies: A. Basis of PresentationThe accompanying schedule of expenditures of federal awards includes thefederal grant activity of Day Spring Baxter Avenue, Inc. and is presentedon the cash basis of accounting. The information in this schedule ispresented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations (CFR) Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards. Therefore,some amounts presented in this schedule may differ from amounts presentedin, or used in the preparation of, the basic financial statements.B. Procurement PolicyThe Corporation has adopted the procurement requirements specified in theUniform Guidance. The effective date was July 1, 2018.C. Indirect Cost RateThe Corporation has not elected to use the 10-percent de minimus indirectcost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.