Notes to SEFA
Title: NOTE A—BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the SEFA are presented on the accrual basis of accounting and are derived from the accounting records of the New Bedford Women’s Center, Inc. Such expenditures are recognized following the cost principles contained in the OMB Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The New Bedford Women’s Center, Inc. has elected to use the 10% de minimis indirect cost rate allowed under the OMB Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) (the Schedule) includes the federal award activity of the New Bedford Women’s Center, 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 activities 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 as a whole.
Title: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the SEFA are presented on the accrual basis of accounting and are derived from the accounting records of the New Bedford Women’s Center, Inc. Such expenditures are recognized following the cost principles contained in the OMB Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The New Bedford Women’s Center, Inc. has elected to use the 10% de minimis indirect cost rate allowed under the OMB Uniform Guidance.
Expenditures reported on the SEFA are presented on the accrual basis of accounting and are derived from the accounting records of the New Bedford Women’s Center, Inc. Such expenditures are recognized following the cost principles contained in the OMB Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE C—INDIRECT COST RATE
Accounting Policies: Expenditures reported on the SEFA are presented on the accrual basis of accounting and are derived from the accounting records of the New Bedford Women’s Center, Inc. Such expenditures are recognized following the cost principles contained in the OMB Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The New Bedford Women’s Center, Inc. has elected to use the 10% de minimis indirect cost rate allowed under the OMB Uniform Guidance.
The New Bedford Women’s Center, Inc. has elected to use the 10% de minimis indirect cost rate allowed under the OMB Uniform Guidance.