Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized, as applicable, by following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Operation HOPE, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. Operation HOPE receives a negotiated indirect cost rate from the U.S. Department of the Interior.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal
grant activity of Operation HOPE, Inc. under programs of the federal government for the year ended
December 31, 2023. The information in this schedule is presented in accordance with the requirements
of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this
schedule may differ from amounts presented in, or used in the preparation of, the basic financial
statements.