Title: Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual
basis of accounting, whereby revenues are recognized when earned and expenses are recorded as
liabilities when incurred. Such expenditures are recognized following the cost principles
contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance. Pass through entity numbers are presented where available.
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 Stepping Stones or Rockford, Inc. under programs of the federal
government for the year ended June 30, 2023. The information in this 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.
Title: Basis of Accounting
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual
basis of accounting, whereby revenues are recognized when earned and expenses are recorded as
liabilities when incurred. Such expenditures are recognized following the cost principles
contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance. Pass through entity numbers are presented where available.
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 is presented using the accrual
basis of accounting, whereby revenues are recognized when earned and expenses are recorded as
liabilities when incurred. Such expenditures are recognized following the cost principles
contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance. Pass through entity numbers are presented where available.
Title: Non-Cash Assistance, Loans, and Insurance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual
basis of accounting, whereby revenues are recognized when earned and expenses are recorded as
liabilities when incurred. Such expenditures are recognized following the cost principles
contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance. Pass through entity numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization did not receive any federal non-cash assistance, federal loans or federal insurance for the year ended June 30, 2023.
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual
basis of accounting, whereby revenues are recognized when earned and expenses are recorded as
liabilities when incurred. Such expenditures are recognized following the cost principles
contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance. Pass through entity numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization did not provide federal awards to subrecipients during the year ended June 30,
2023.