Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: Note 1 – Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Providence of Maryland, Inc. under programs of the federal government for the year ended June 30, 2023. 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 Providence of Maryland, Inc., it is not intended to and does not present the financial position, changes in net assets, functional expenses, or cash flows of Providence of Maryland, Inc. 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, whereas certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Providence of Maryland, Inc. under programs of the federal government for the year ended June 30, 2023. 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 Providence of Maryland, Inc., it is not intended to and does not present the financial position, changes in net assets, functional expenses, or cash flows of Providence of Maryland, Inc.
Title: Note 2 – Summary of Significant Accounting Policies
Accounting Policies: Note 1 – Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Providence of Maryland, Inc. under programs of the federal government for the year ended June 30, 2023. 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 Providence of Maryland, Inc., it is not intended to and does not present the financial position, changes in net assets, functional expenses, or cash flows of Providence of Maryland, Inc. 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, whereas certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
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, whereas certain types of expenditures are not allowable or are limited as to reimbursement.