Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported in the Schedule of Expenditures of Federal and State 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.
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De Minimis Rate Used: N
Rate Explanation: BRHS has not elected to charge a 10% de minimus indirect cost rate to its grants and has not elected to obtain a federal indirect cost rate.
The accompanying Schedule of Expenditures of Federal and State Awards includes the Federal and State grant activity of BRHS under the programs of the federal government and the State of North Carolina 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 (“the Uniform Guidance”). Because the schedule presents only a selected portion of the operations of BRHS, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of BRHS.