Notes to SEFA
Title: Subrecipient Monitoring
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of AIDS Response Effort, Inc. under programs of the federal government for the year ended June 30, 2021. 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of AIDS Response Effort, Inc., it is not intended and does not present the financial position, changes in net assets, or cash flows of AIDS Response Effort, Inc. (1) 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. (2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
No awards were passed through to subrecipients.
Title: Relationship to the Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of AIDS Response Effort, Inc. under programs of the federal government for the year ended June 30, 2021. 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of AIDS Response Effort, Inc., it is not intended and does not present the financial position, changes in net assets, or cash flows of AIDS Response Effort, Inc. (1) 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. (2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
See attached financial statements.