Notes to SEFA
Title: NOTE 1. BASIS OF PRESENTATION
Accounting Policies: NOTE 2. SUMMARY OF SIGNIFICANT 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 allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE 3. INDIRECT COST RATE
Nicholas House, Inc. has elected not to use the 10% de minimis indirect cost rate allowed
under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes
the federal award activity of Nicholas House, Inc. under programs of the federal
government for the year ended August 31, 2023. The information in the 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 (Uniform Guidance). 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, changes in net assets, or cash flows of the Organization.