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 the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Both
Rate Explanation: The Organization has elected to use the 10% de minimis rate in accordance with the Uniform Guidance, except for expenditures related to AL #: 14.241 Housing Opportunities for Persons with AIDS. The indirect cost rate for this grant is capped at 7% due to agreement with the passed through entity which the Organization is a subrecipient.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of AIDS Care Ocean State, Inc. (the Organization) under programs of the federal government for the year ended August 31, 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, Changes in Net Assets or Cash Flows for the Organization.
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. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Both
Rate Explanation: The Organization has elected to use the 10% de minimis rate in accordance with the Uniform Guidance, except for expenditures related to AL #: 14.241 Housing Opportunities for Persons with AIDS. The indirect cost rate for this grant is capped at 7% due to agreement with the passed through entity which the Organization is a subrecipient.
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.
Pass-through entity identifying numbers are presented where available.
Title: Indirect Cost Rates
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. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Both
Rate Explanation: The Organization has elected to use the 10% de minimis rate in accordance with the Uniform Guidance, except for expenditures related to AL #: 14.241 Housing Opportunities for Persons with AIDS. The indirect cost rate for this grant is capped at 7% due to agreement with the passed through entity which the Organization is a subrecipient.
The Organization has elected to use the 10% de minimis rate in accordance with the Uniform Guidance, except for expenditures related to AL #: 14.241 Housing Opportunities for Persons with AIDS. The indirect cost rate for this grant is capped at 7% due to agreement with the passed through entity which the Organization is a subrecipient.