Audit 301340

Title: NOTE 1 - BASIS OF ACCOUNTING Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the grant activity of Shields for Families, Inc. and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Tille 2 US. Code of Federal Regulations Part 200. Uniform Administrative Requirements. Cost Principles. and Audit Requirements for Federal Awards. Therefore some amounts in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Unifonn Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported in prior years. De Minimis Rate Used: N Rate Explanation: Shields for Families, Inc. elected not to use the federally allowable 10 percent de minimis indirect cost rate. The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the grant activity of Shields for Families, Inc. and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Tille 2 US. Code of Federal Regulations Part 200. Uniform Administrative Requirements. Cost Principles. and Audit Requirements for Federal Awards. Therefore some amounts in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.

Title: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the grant activity of Shields for Families, Inc. and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Tille 2 US. Code of Federal Regulations Part 200. Uniform Administrative Requirements. Cost Principles. and Audit Requirements for Federal Awards. Therefore some amounts in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Unifonn Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported in prior years. De Minimis Rate Used: N Rate Explanation: Shields for Families, Inc. elected not to use the federally allowable 10 percent de minimis indirect cost rate. Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Unifonn Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported in prior years.

Title: NOTE 3 - INDIRECT COST RA TE Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the grant activity of Shields for Families, Inc. and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Tille 2 US. Code of Federal Regulations Part 200. Uniform Administrative Requirements. Cost Principles. and Audit Requirements for Federal Awards. Therefore some amounts in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Unifonn Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported in prior years. De Minimis Rate Used: N Rate Explanation: Shields for Families, Inc. elected not to use the federally allowable 10 percent de minimis indirect cost rate. Shields for Families, Inc. elected not to use the federally allowable 10 percent de minimis indirect cost rate.