Notes to SEFA
Title: 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, wherein certain types of expenditures are not allowable or limited as to reimbursement. Pass- through entity identifying numbers are presented where available and applicable.
De Minimis Rate Used: N
Rate Explanation: Actual costs
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal
award activity of Vision To Learn (the "Organization") 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: 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, wherein certain types of expenditures are not allowable or limited as to reimbursement. Pass- through entity identifying numbers are presented where available and applicable.
De Minimis Rate Used: N
Rate Explanation: Actual costs
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, wherein certain types of expenditures are not allowable or limited as to reimbursement. Pass- through entity identifying numbers are presented where available and applicable.
Title: 3. INDIRECT COSTS
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, wherein certain types of expenditures are not allowable or limited as to reimbursement. Pass- through entity identifying numbers are presented where available and applicable.
De Minimis Rate Used: N
Rate Explanation: Actual costs
The Organization did not use the 10% de minimis cost rate.