Audit 305576

Title: NOTE 1 – GENERAL Accounting Policies: NOTE 1 – GENERAL The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of Poverello House (the Organization). Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. The information in this SEFA 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). NOTE 2 – BASIS OF ACCOUNTING The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 2 of the Organizations financial statements. De Minimis Rate Used: Y Rate Explanation: NOTE 4 – INDIRECT COST RATE The Organization has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of Poverello House (the Organization). Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. The information in this SEFA 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).

Title: NOTE 2 – BASIS OF ACCOUNTING Accounting Policies: NOTE 1 – GENERAL The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of Poverello House (the Organization). Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. The information in this SEFA 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). NOTE 2 – BASIS OF ACCOUNTING The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 2 of the Organizations financial statements. De Minimis Rate Used: Y Rate Explanation: NOTE 4 – INDIRECT COST RATE The Organization has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 2 of the Organizations financial statements.

Title: NOTE 3 – RELATIONSHIP TO BASIC FINANCIAL STATEMENTS Accounting Policies: NOTE 1 – GENERAL The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of Poverello House (the Organization). Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. The information in this SEFA 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). NOTE 2 – BASIS OF ACCOUNTING The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 2 of the Organizations financial statements. De Minimis Rate Used: Y Rate Explanation: NOTE 4 – INDIRECT COST RATE The Organization has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Federal award expenditures agree or can be reconciled with the amounts reported in the Organization’s financial statements.

Title: NOTE 4 – INDIRECT COST RATE Accounting Policies: NOTE 1 – GENERAL The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of Poverello House (the Organization). Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. The information in this SEFA 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). NOTE 2 – BASIS OF ACCOUNTING The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 2 of the Organizations financial statements. De Minimis Rate Used: Y Rate Explanation: NOTE 4 – INDIRECT COST RATE The Organization has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The Organization has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.