Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Accrual Basis
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal award activity of HOPE of East Central Illinois, NFP under programs of the federal government for the year ended June 30, 2023. The information 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).
Title: Significant Accounting Policies
Accounting Policies: Accrual Basis
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Expenditures reported on the accompanying schedule of expenditures of federal awards 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: Insurance Coverage
Accounting Policies: Accrual Basis
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
See the Notes to the SEFA for chart/table
Title: Subrecipients
Accounting Policies: Accrual Basis
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
No amount was provide to subrecipients by HOPE