Notes to SEFA
Title: NOTE 1 – 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Signal Centers, Inc., has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. This rate was used on the Child Care and Development Block Grant.
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 Principals, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Signam Centers, Inc., it is not intended to and does not present the fnancial position, changes in net assets, or cash flows of Signal Centers, Inc.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Signal Centers, Inc., has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. This rate was used on the Child Care and Development Block Grant.
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.
Title: NOTE 3 – 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Signal Centers, Inc., has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. This rate was used on the Child Care and Development Block Grant.
Signal Centers, Inc. has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. This rate was used on the Child Care and Development Block Grant.