Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: None
The schedule of expenditures of federal awards (the schedule) presents only the activity of the federal award program of Fair & Balanced of PA, Inc. (the Organization) for the year ended December 31, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position or changes in net assets of the Organization.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: None
Expenditures reported on the schedule are reported on the accrual basis of accounting. The Organization has elected not to use the 10% de minumis indirect cost rate allowed under the Uniform Guidance.