Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for amounts passed through to subrecipients, which are reported on a cash basis.
De Minimis Rate Used: Y
Rate Explanation: Sanctuary does not have a federally negotiated indirect cost rate on its Federal contracts and Sanctuary has elected to use the 10 percent de minimis cost rate under Unifrom Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Sanctuary for Families, Inc. ("Sanctuary") 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 ("Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of Sanctuary, it is not intended to and does not present the financial position, changes in net assets or cash flows of Sanctuary.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for amounts passed through to subrecipients, which are reported on a cash basis.
De Minimis Rate Used: Y
Rate Explanation: Sanctuary does not have a federally negotiated indirect cost rate on its Federal contracts and Sanctuary has elected to use the 10 percent de minimis cost rate under Unifrom Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for amounts passed through to subrecipients, which are reported on a cash basis. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
Title: Indirect Cost Rates
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for amounts passed through to subrecipients, which are reported on a cash basis.
De Minimis Rate Used: Y
Rate Explanation: Sanctuary does not have a federally negotiated indirect cost rate on its Federal contracts and Sanctuary has elected to use the 10 percent de minimis cost rate under Unifrom Guidance.
Sanctuary does not have a federally negotiated indirect cost rate on its Federal contracts and Sanctuary has elected to use the 10 percent de minimis cost rate under the Uniform Guidance.