Notes to SEFA
Accounting Policies: Note A Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal awardactivity of WINGS for Kids under programs of the federal government for the year ended June 30, 2022. Theinformation in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of WINGSfor Kids, it is not intended to and does not present the financial position, changes in net assets, or cash flows ofWINGS for Kids.Note B Summary of Significant Accounting PoliciesExpenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance,wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amountsshown on the Schedule of Expenditures of Federal Awards represent adjustments or credits made in the normalcourse of business to amounts reported as expenditures in prior years.Note C Indirect Cost RateWINGS for Kids has elected to use the 10-percent de minimis indirect cost rate allowed under the UniformGuidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.