Notes to SEFA
Title: 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
All Federal grant operations of United Way of Central Maryland, Inc. are included in the scope
of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards (the Single Audit). The Single
Audit was performed in accordance with the provisions of the OMB Compliance Supplement
(the Compliance Supplement). Compliance testing of all requirements, as described in the
Compliance Supplement, was performed for the grant program noted below. The programs on
the schedule of expenditures of Federal awards (the Schedule) represent all Federal award
programs with fiscal year 2023, cash or non-cash expenditure activities. For single audit testing,
we tested to ensure coverage of at least 40% of Federally granted funds. Actual coverage was
48%. The major programs tested are listed below.
Expenditures reported on the Schedule are recognized following the cost principles contained
in the Single Audit, wherein certain types of expenditures are not allowable or are limited as
to reimbursement. United Way of Central Maryland, Inc. has elected not to use the 10-percent
de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Management has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
All Federal grant operations of United Way of Central Maryland, Inc. are included in the scope
of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards (the Single Audit). The Single
Audit was performed in accordance with the provisions of the OMB Compliance Supplement
(the Compliance Supplement). Compliance testing of all requirements, as described in the
Compliance Supplement, was performed for the grant program noted below. The programs on
the schedule of expenditures of Federal awards (the Schedule) represent all Federal award
programs with fiscal year 2023, cash or non-cash expenditure activities. For single audit testing,
we tested to ensure coverage of at least 40% of Federally granted funds. Actual coverage was
48%. The major programs tested are listed below.
Expenditures reported on the Schedule are recognized following the cost principles contained
in the Single Audit, wherein certain types of expenditures are not allowable or are limited as
to reimbursement. United Way of Central Maryland, Inc. has elected not to use the 10-percent
de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: 2. BASIS OF PRESENTATION
Accounting Policies: 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
All Federal grant operations of United Way of Central Maryland, Inc. are included in the scope
of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards (the Single Audit). The Single
Audit was performed in accordance with the provisions of the OMB Compliance Supplement
(the Compliance Supplement). Compliance testing of all requirements, as described in the
Compliance Supplement, was performed for the grant program noted below. The programs on
the schedule of expenditures of Federal awards (the Schedule) represent all Federal award
programs with fiscal year 2023, cash or non-cash expenditure activities. For single audit testing,
we tested to ensure coverage of at least 40% of Federally granted funds. Actual coverage was
48%. The major programs tested are listed below.
Expenditures reported on the Schedule are recognized following the cost principles contained
in the Single Audit, wherein certain types of expenditures are not allowable or are limited as
to reimbursement. United Way of Central Maryland, Inc. has elected not to use the 10-percent
de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Management has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule includes the Federal award activity of the Organization under
programs of the Federal government for the year ended June 30, 2023 and is recorded on the
accrual basis of accounting. The information in this Schedule is presented in accordance with
the requirements of the Uniform Guidance.