Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: See Notes
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of the Share Our Selves Corporation (the "SOS") under programs of the federal government for the year ended June 30, 2023. The information in the Schedule is presented in accordance with requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the "Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of SOS, it is not intended to and does not present the financial position, changes in net assets, or cash flows of SOS.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: See Notes
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: INDIRECT COST RATE
Accounting Policies: See Notes
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SOS has elected not to use the 10% de mini mis indirect cost rate allowed under the Uniform Guidance.
Title: SUBRECIPIENTS
Accounting Policies: See Notes
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no federal awards provided to subrecipients.