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, as applicable, the cost principles contained in the
Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization has elected not to use the 10-percent de minimus indirect
cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee used the indirect cost rate prescribed by funder for the major program grant and the entity used their negotiated indirect cost rate for other federal program grants
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Family Rescue, Inc. (the Organization) under programs of the federal government for the year ended June 30, 2023. The information in this 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). 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, 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: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the
Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization has elected not to use the 10-percent de minimus indirect
cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee used the indirect cost rate prescribed by funder for the major program grant and the entity used their negotiated indirect cost rate for other federal program grants
Of the federal expenditures presented in the Schedule, the Organization provided no federal awards to subrecipients for the year ended June 30, 2023.
Title: Noncash assistance
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the
Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization has elected not to use the 10-percent de minimus indirect
cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee used the indirect cost rate prescribed by funder for the major program grant and the entity used their negotiated indirect cost rate for other federal program grants
The federal expenditures presented include $31,763 of noncash assistance received during the year ended June 30, 2023.