Notes to SEFA
Accounting Policies: Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESa. GeneralThe accompanying Schedule of Expenditures of Federal Awards presents the activityof all federal awards of Rebuilding Together New Orleans, Inc. (RTNO). RTNOsreporting entity is defined in Note 1 to the financial statements for the year endedDecember 31, 2022. All federal awards received directly from federal agencies areincluded on the schedule, as well as federal awards passed through other governmentagencies.b. Basis of AccountingThe accompanying Schedule of Expenditures of Federal Awards is presented usingthe accrual basis of accounting, which is described in Note 1 to RTNOs financialstatements for the year ended December 31, 2022. RTNO has elected to use the 10%de minimus indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.