Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of HopeWest and is presented on the accrual basis. The information in this schedule is presented in accordance with the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of operations of HopeWest, it is not intended to, and does not, present the financial position and related results of operations and cash flows of HopeWest. The Schedule includes federally funded projects received directly from a federal agency received by HopeWest.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.