Notes to SEFA
Title: Basis of Presentation
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on an accrual basis of accounting as described in Note 1 of the Organizations consolidated financial statements. Such expenditures are recognized consistent with the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Both
Rate Explanation: INDIRECT COST RATE
The Organization has not elected to use the 10% de minimis indirect cost rate for the Center for Independent Living program, CFDA number 93.432, Pass-Through Entity Identifying Number H132A37005-12. The Organization has elected to use the 10% de minimis, as allowed in the Uniform Guidance, Section 414, for all other federal programs.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Organization under programs of the federal government for the year ended September 30, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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.