Notes to SEFA
Title: RELATIONSHIP TO THE FINANCIAL STATEMENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal and State Awards includes the federal and state grant activity of Communities of Don Guanella and Divine Providence and is presented on an accural basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance and other guidelines of pass-through agencies. The expenditures in this schedule may differ from certian financial reports submitted to funding agencies due to those reports being submitted on a cash or modified basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Communities has not elected to use the 10% de minimis cost rate.
Federal and state awards expenditures are reported on the statement of activites and changes in net assets. In certain programs, the expenditures reported in the financial statements may differ from the expenditures reported in the Schedule of Expenditures of Federal and State Awards due to program expenditures exceeding grant or contract budget limitations, which are not included as federal and state awards. Because the schedule presents only a selected portion of the activites of the Communities of Don Guanella and Divine Providence, it is not intended to, and does not , present either the financial position, changes in net assets or cash flows of the Communities of Don Guanella and Divine Providence.