Notes to SEFA
Title: Note 1. 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.
De Minimis Rate Used: N
Rate Explanation: QIS negotiates and utilizes an indirect cost rate with the federal government and, therefore, does not use the 10% de minimis cost rate option.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Qlarant Integrity Solutions, LLC (QIS) under programs of the federal government for the year ended June 30, 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 QIS, it is not intended to and does not present the financial position, changes in net assets or cash flows of QIS.
Title: Note 4. Subrecipients
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: QIS negotiates and utilizes an indirect cost rate with the federal government and, therefore, does not use the 10% de minimis cost rate option.
There are no amounts passed through to subrecipients for the year ended June 30, 2023.