Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: NOTE A – BASIS OF PRESENTATION
The accompanying schedules of expenditures of federal awards and federal, state and city awards passed through the City of Philadelphia Department of Human Services are prepared on the accrual basis of accounting.
NOTE B – RELATIONSHIP OF BASIC FINANCIAL STATEMENTS
The information in the schedule of expenditures of federal awards and federal, state and city awards passed through the City of Philadelphia Department of Human Services is presented in accordance with the requirements of Uniform Guidance, Audits of State, Local Government, and Non-Profit Organizations and the City of Philadelphia Subrecipient Audit Guide. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the basic financial statements.
NOTE C – DONATED COMMODITIES
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed.
NOTED - SELF-INSURANCE
On June 1, 2022, the Organization joined the VERIS Benefits Consortium (the "Consortium"),
which provides for the delivery of health benefits to its health plan participants. Fees paid to the
Consortium include insurance premiums, administrative fees and expenses which are deposited
into the Friendship House Health Benefit Trust, a trust established to hold assets which are to
provide health care under an established plan. Plan expenses are paid from the trust and Stop-Loss
insurance policies are purchased to cover claims in excess of a specific deductible ($50,000).
Approximately 150 participants are covered under the plan. ERISA Fidelity Coverage in the
amount of $500,000 is provided by the Organization.
De Minimis Rate Used: N
Rate Explanation: THE AUDITEE DID NOT USE THE DE MINIMIS COST RATE
The accompanying schedules of expenditures of federal awards and federal, state and city awards passed through the City of Philadelphia Department of Human Services are prepared on the accrual basis of accounting.
Title: NOTE B – RELATIONSHIP OF BASIC FINANCIAL STATEMENTS
Accounting Policies: NOTE A – BASIS OF PRESENTATION
The accompanying schedules of expenditures of federal awards and federal, state and city awards passed through the City of Philadelphia Department of Human Services are prepared on the accrual basis of accounting.
NOTE B – RELATIONSHIP OF BASIC FINANCIAL STATEMENTS
The information in the schedule of expenditures of federal awards and federal, state and city awards passed through the City of Philadelphia Department of Human Services is presented in accordance with the requirements of Uniform Guidance, Audits of State, Local Government, and Non-Profit Organizations and the City of Philadelphia Subrecipient Audit Guide. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the basic financial statements.
NOTE C – DONATED COMMODITIES
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed.
NOTED - SELF-INSURANCE
On June 1, 2022, the Organization joined the VERIS Benefits Consortium (the "Consortium"),
which provides for the delivery of health benefits to its health plan participants. Fees paid to the
Consortium include insurance premiums, administrative fees and expenses which are deposited
into the Friendship House Health Benefit Trust, a trust established to hold assets which are to
provide health care under an established plan. Plan expenses are paid from the trust and Stop-Loss
insurance policies are purchased to cover claims in excess of a specific deductible ($50,000).
Approximately 150 participants are covered under the plan. ERISA Fidelity Coverage in the
amount of $500,000 is provided by the Organization.
De Minimis Rate Used: N
Rate Explanation: THE AUDITEE DID NOT USE THE DE MINIMIS COST RATE
The information in the schedule of expenditures of federal awards and federal, state and city awards passed through the City of Philadelphia Department of Human Services is presented in accordance with the requirements of Uniform Guidance, Audits of State, Local Government, and Non-Profit Organizations and the City of Philadelphia Subrecipient Audit Guide. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: NOTE C - DONATED COMMODITIES
Accounting Policies: NOTE A – BASIS OF PRESENTATION
The accompanying schedules of expenditures of federal awards and federal, state and city awards passed through the City of Philadelphia Department of Human Services are prepared on the accrual basis of accounting.
NOTE B – RELATIONSHIP OF BASIC FINANCIAL STATEMENTS
The information in the schedule of expenditures of federal awards and federal, state and city awards passed through the City of Philadelphia Department of Human Services is presented in accordance with the requirements of Uniform Guidance, Audits of State, Local Government, and Non-Profit Organizations and the City of Philadelphia Subrecipient Audit Guide. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the basic financial statements.
NOTE C – DONATED COMMODITIES
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed.
NOTED - SELF-INSURANCE
On June 1, 2022, the Organization joined the VERIS Benefits Consortium (the "Consortium"),
which provides for the delivery of health benefits to its health plan participants. Fees paid to the
Consortium include insurance premiums, administrative fees and expenses which are deposited
into the Friendship House Health Benefit Trust, a trust established to hold assets which are to
provide health care under an established plan. Plan expenses are paid from the trust and Stop-Loss
insurance policies are purchased to cover claims in excess of a specific deductible ($50,000).
Approximately 150 participants are covered under the plan. ERISA Fidelity Coverage in the
amount of $500,000 is provided by the Organization.
De Minimis Rate Used: N
Rate Explanation: THE AUDITEE DID NOT USE THE DE MINIMIS COST RATE
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities
received and disbursed.
Title: NOTED - SELF-INSURANCE
Accounting Policies: NOTE A – BASIS OF PRESENTATION
The accompanying schedules of expenditures of federal awards and federal, state and city awards passed through the City of Philadelphia Department of Human Services are prepared on the accrual basis of accounting.
NOTE B – RELATIONSHIP OF BASIC FINANCIAL STATEMENTS
The information in the schedule of expenditures of federal awards and federal, state and city awards passed through the City of Philadelphia Department of Human Services is presented in accordance with the requirements of Uniform Guidance, Audits of State, Local Government, and Non-Profit Organizations and the City of Philadelphia Subrecipient Audit Guide. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the basic financial statements.
NOTE C – DONATED COMMODITIES
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed.
NOTED - SELF-INSURANCE
On June 1, 2022, the Organization joined the VERIS Benefits Consortium (the "Consortium"),
which provides for the delivery of health benefits to its health plan participants. Fees paid to the
Consortium include insurance premiums, administrative fees and expenses which are deposited
into the Friendship House Health Benefit Trust, a trust established to hold assets which are to
provide health care under an established plan. Plan expenses are paid from the trust and Stop-Loss
insurance policies are purchased to cover claims in excess of a specific deductible ($50,000).
Approximately 150 participants are covered under the plan. ERISA Fidelity Coverage in the
amount of $500,000 is provided by the Organization.
De Minimis Rate Used: N
Rate Explanation: THE AUDITEE DID NOT USE THE DE MINIMIS COST RATE
On June 1, 2022, the Organization joined the VERIS Benefits Consortium (the "Consortium"),
which provides for the delivery of health benefits to its health plan participants. Fees paid to the
Consortium include insurance premiums, administrative fees and expenses which are deposited
into the Friendship House Health Benefit Trust, a trust established to hold assets which are to
provide health care under an established plan. Plan expenses are paid from the trust and Stop-Loss
insurance policies are purchased to cover claims in excess of a specific deductible ($50,000).
Approximately 150 participants are covered under the plan. ERISA Fidelity Coverage in the
amount of $500,000 is provided by the Organization.