Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal and state awards includes the federal and state grant activity of Saint Francis Children’s Center, Inc. Expenditures reported on the schedule are reported on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Administrative Requirements and State Single Audit Guidelines. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% indirect cost rate for direct federal funding, for which it has none in the current year. For other grants, the Organization limits indirect costs to contractually allowed amounts. Occupancy costs are allocated based on square footage for each program and general and administrative costs are allocated based on staff full-time equivalents in each program.