Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principals contained in the Unfiorm Guidance, wherein certain types of expenditures are not allowable, or are limited, as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Southmountain Children and Family Services has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal and State awards (SEFSA) includes the federal and State grant activity of Southmountain Children and Family Services and is presented on the accrual basis of accounting. 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 Southmountain Children and Family Services, it is not intended to, and does not, present the financial position, changes in net position or cash flows of Southmountain Children and Family Services.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principals contained in the Unfiorm Guidance, wherein certain types of expenditures are not allowable, or are limited, as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Southmountain Children and Family Services has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principals contained in the Unfiorm Guidance, wherein certain types of expenditures are not allowable, or are limited, as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principals contained in the Unfiorm Guidance, wherein certain types of expenditures are not allowable, or are limited, as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Southmountain Children and Family Services has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Southmountain Children and Family Services has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.