Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedules are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and Chapter 10.650, Rules of the Auditor General, wherein certain types of expenditures are not allowable or are limited as to reimbursement, as applicable.
De Minimis Rate Used: N
Rate Explanation: BPHI did not elect to use the 10‐percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedules of Expenditures of Federal Awards, State and Other State Financial Assistance, and Local Financial Assistance (the “Schedules”) include the grant activity of Broward Partnership for the Homeless, Inc. ( “BPHI”) under programs of federal, state and local government for the year ended September 30, 2023. The information in the Schedule of Expenditures of Federal Awards is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance). Because the Schedules present only a selected portion of the operations, it is not intended to and do not present the financial position, changes in net assets, or cash flows of BPHI.
Title: Contingency
Accounting Policies: Expenditures reported on the Schedules are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and Chapter 10.650, Rules of the Auditor General, wherein certain types of expenditures are not allowable or are limited as to reimbursement, as applicable.
De Minimis Rate Used: N
Rate Explanation: BPHI did not elect to use the 10‐percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The grants and contracts revenue received are subject to audit and adjustment. If any expenditures or expenses are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor/contract agencies would become a liability of BPHI. In the opinion of management, all grant and contract expenditures are in compliance with the terms of the agreements and applicable federal, state and local laws, and other applicable regulations.