Notes to SEFA
Title: NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Dayspring Programs, Inc. and Subsidiaries under programs of the federal government for the year ended June 30, 2023. The information in the 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 operation of Dayspring Programs, Inc. and Subsidiaries, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Dayspring Programs, Inc. and Subsidiaries. Basis of Accounting 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 grant agreements the organization has signed contain specified dollar amounts or percentages of allowable indirect costs.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Dayspring Programs, Inc. and Subsidiaries under programs of the federal government for the year ended June 30, 2023. The information in the 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 operation of Dayspring Programs, Inc. and Subsidiaries, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Dayspring Programs, Inc. and Subsidiaries. Basis of Accounting 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.
Title: NOTE 2 - INDIRECT COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Dayspring Programs, Inc. and Subsidiaries under programs of the federal government for the year ended June 30, 2023. The information in the 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 operation of Dayspring Programs, Inc. and Subsidiaries, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Dayspring Programs, Inc. and Subsidiaries. Basis of Accounting 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 grant agreements the organization has signed contain specified dollar amounts or percentages of allowable indirect costs.
Dayspring Programs, Inc. and Subsidiaries has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The grant agreements the organization has signed contain specified dollar amounts or percentages of allowable indirect costs.