Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed, or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Costs are charged as direct costs
The Schedule of Expenditures of Federal Awards includes the federal grant activity of Home of the Sparrow, Inc. under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule may offer from amounts presented in, and used in the preparation of, the basic financial statements.
Title: SUMMARY OF ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed, or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Costs are charged as direct costs
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed, or are limited as to reimbursement.
Title: INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed, or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Costs are charged as direct costs
Home of the Sparrow, Inc. has elected not to use a 10 percent de minimis indirect rate as allowed under the Uniform Guidance.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed, or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Costs are charged as direct costs
Home of the Sparrow, Inc. did not provide federal awards to subrecipients during the year ended June 30, 2023.
Title: FEDERAL LOANS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed, or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Costs are charged as direct costs
Home of the Sparrow, Inc. holds a $124,400 forgivable mortgage loan at a 0% interest rate on the property from the County.
Title: DONATED PERSONAL PROTECTIVE EQUIPMENT (PPE) (UNAUDITED)
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed, or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Costs are charged as direct costs
Home of the Sparrow, Inc. was not a recipient of federally donated PPE.