Notes to SEFA
Title: ACCOUNTING BASIS
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Coventry Place, Inc. does not have an approved indirect cost rate and has not elected to use the 10 percent de minimis indirect cost rate due to the nature of the organization’s operations.
The accompanying schedule of expenditures of federal awards includes the federal activity of Coventry Place, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Coventry Place, Inc. does not have an approved indirect cost rate and has not elected to use the 10 percent de minimis indirect cost rate due to the nature of the organization’s operations.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Coventry Place, Inc. does not have an approved indirect cost rate and has not elected to use the 10 percent de minimis indirect cost rate due to the nature of the organization’s operations.