Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal awards programs of Special Olympics New York, Inc. (the Organization) for the year ended December 31, 2022. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included in the schedule.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). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the financial statements.Basis of AccountingThe accompanying schedule of expenditures of federal awards is prepared in accordance with generally accepted accounting principles.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Administrative overhead costs charged to contracts vary by funding source as agreed to within the contract, and therefore, the Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.