Notes to SEFA
Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: Expenditures reflected on the accompanying schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, “Cost Principles for Non-Profit Organizations”, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Project STAY, Inc. has elected not to use the 10 percent de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Project STAY, Inc. 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the schedule presents only a selected portion of the operations of Project STAY, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Project STAY, Inc.
Title: NOTE 2 - SUMMARY OF ACCOUNTING POLICIES
Accounting Policies: Expenditures reflected on the accompanying schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, “Cost Principles for Non-Profit Organizations”, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Project STAY, Inc. has elected not to use the 10 percent de minimis indirect cost rate.
Expenditures reflected on the accompanying schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, “Cost Principles for Non-Profit Organizations”, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE 3 - OTHER DISCLOSURES
Accounting Policies: Expenditures reflected on the accompanying schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, “Cost Principles for Non-Profit Organizations”, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Project STAY, Inc. has elected not to use the 10 percent de minimis indirect cost rate.
There were no loans or loan guarantees outstanding at year end. Project STAY, Inc. has elected not to use the 10 percent de minimis indirect cost rate. Project STAY, Inc. did not disburse any federal awards to subrecipients for the year ended August 31, 2023.