Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Family Builders by Adoption & Subsidiary (FBBA) under programs of the federal government for the fiscal year ended June 30, 2021. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of FBBA, it is not intended to and does not present the financial position, changes in net assets, or cash flows of FBBA.
De Minimis Rate Used: N
Rate Explanation: Opted to pass on the rate