Notes to SEFA
Title: Note 2: Relationship to Basic Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) presents the expenditures of all federal award programs of Seton Hill Child Services, Inc. (SHCS) using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: SHCS has elected not to use the 10 percent de minimus indirect cost rate allowed under Uniform Guidance.
The information in the 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). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the Schedule presents only a selected portion of the operations of SHCS, it is not intended to and does not present the financial position, changes in net assets or cash flows of SHCS