Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: The Organziation has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The purpose of the accompanying schedule of expenditures of federal awards (the Schedule) is to present, in summary form, total federal award expenditures of Coalition of Independent Living Options, inc. (the Organization) for the year ended June 30, 2023. The Schedule is presented in accordance with the requirements of TItle 2 U.S. Code of Federal Regulations (CFR) Part 200, the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Gudiance). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to, and does not, present the financial postion, changes in net assets or cash flows of the Organization. Therefore, certain amounts presented in this Schedule may differ from amounts presented in the basis financial statements.
Title: Note 3 - Contingency
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: The Organziation has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Amounts received or receivable from grantor agencies are subject to audit and adjustment by those agencies. Any disallowed claims, including amounts already received, might constitute a liability of the Organization for the return of those funds. In the opinion of management, all grant expenditures were in compliance with the terms of the grant agreements and applicable federal and state laws and regulations.
Title: Note 4 - Loan and Loan Guarantee Programs
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: The Organziation has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
There were no balances or loan or loan guarantee programs as of June 30, 2023.
Title: Note 5 - Sub-recipients
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: The Organziation has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
There were no federal awards provided to sub-recipients during the year ended June 30, 2023.
Title: Note 6 - Indirect Cost Rate
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: The Organziation has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.