Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Boys and
Girls Club of the Kenai Peninsula under programs of the federal government 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 Boys and Girls Club of the Kenai Peninsula, it is not
intended to and does not represent the financial position, change in net assets or cash flows of Boys and Girls Club of the
Kenai Peninsula. Expenditures reported on the Schedule are reported on the full 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: All direct charges