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 following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. Assistance listing numbers and pass-through entity identification numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The schedule of expenditures of federal awards (the Schedule) includes the federal award activity of
WEAVE Inc. (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 Title 2 U.S. Code of Federal Regulations (CFR), 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: 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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. Assistance listing numbers and pass-through entity identification numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. Assistance listing numbers and pass-through entity identification numbers are presented where available.
Title: Indirect Cost Rate
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. Assistance listing numbers and pass-through entity identification numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The Organization has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.