Title: Note 1 ‐ Basis of Presentation
Accounting Policies: 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, and other contractual arrangements, wherein certain types of expenditures are not allowable or are limited as to reimbursement, as applicable.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) include the grant activity of Broward House, Inc. (the “Organization”) for the eighteen month period ended December 31, 2023. The information in the Schedule of Expenditures of Federal Awards 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 the Organization, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Organization.
Title: Note 2 ‐ Summary of Significant Accounting Policies
Accounting Policies: 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, and other contractual arrangements, wherein certain types of expenditures are not allowable or are limited as to reimbursement, as applicable.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
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, and other contractual arrangements, wherein certain types of expenditures are not allowable or are limited as to reimbursement, as applicable.
Title: Note 3 ‐ Indirect Cost Rate
Accounting Policies: 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, and other contractual arrangements, wherein certain types of expenditures are not allowable or are limited as to reimbursement, as applicable.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 4 ‐ Contingency
Accounting Policies: 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, and other contractual arrangements, wherein certain types of expenditures are not allowable or are limited as to reimbursement, as applicable.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The grant and contract revenue amounts received are subject to audit and adjustment. If any expenditures or expenses are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor/contract agencies becomes a liability of the Organization. In the opinion of management, all grant and contract expenditures are in compliance with the terms of the agreement and applicable federal, state, and local laws and regulations.
Title: Note 5 ‐ Reconciliation to Financial Statements
Accounting Policies: 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, and other contractual arrangements, wherein certain types of expenditures are not allowable or are limited as to reimbursement, as applicable.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Effective with the six‐month fiscal period beginning July 1, 2022, the Organization changed its fiscal year end from June 30 to December 31. Accordingly, the accompanying Schedule include the grant activity of the Organization for the eighteen month period from July 1, 2022 through December 31, 2023.