Notes to SEFA
Accounting Policies: 1
CENTERS FOR EQUITY AND SUCCESS, INC.
DBA SUCCESS CENTER
NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARD
For the Year Ended June 30, 2023
NOTE A: BASIS OF PRESENTATION
The accompanying schedule of expenditures of Federal awards includes the Federal award activity of Centers for Equity and Success DBA Success Center under programs of the federal government for the year ended June 30, 2023 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 selected portion of the operations of Centers for Equity and Success DBA Success Center, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Centers for Equity and Success DBA Success Center
NOTE B: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the schedule are 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 allowed or are limited to reimbursements.
Centers for Equity and Success DBA Success Center has elected not to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance. Centers for Equity and Success DBA Success Center does not use an indirect cost rate.
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De Minimis Rate Used: N
Rate Explanation: N/A