Notes to SEFA
Title: Basis of Accounting
Accounting Policies: Expenditures 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: United Way of Southwest Virginia has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
This schedule of expenditures of federal awards includes the federal award activity of United Way of Southwest Virginia 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 US Code of Federal Regulations Part 200 Uniform Administrative Requirement, Cost Principle and Audit Requirement for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operation of the Program, it is not intended to and does not present the financial position, changes in net assets or cash flows of United Way of Southwest Virginia.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: United Way of Southwest Virginia has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures 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 allowed or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: Expenditures 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: United Way of Southwest Virginia has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
United Way of Southwest Virginia has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Pass-Through Entities
Accounting Policies: Expenditures 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: United Way of Southwest Virginia has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Pass-through entity identifying numbers are presented when available.
Title: Awards to Subrecipients
Accounting Policies: Expenditures 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: United Way of Southwest Virginia has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
No awards were passed to subrecipients for the twelve months ended June 30, 2023.