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 where certain types of expenditures are not allowable or are limited as to reimbursement. Management expended $72,383 for the Disaster Grants - Public Assistance at December 31, 2022. However, the Organization did not sign and approve the agreement until January 2023 and, accordingly, has included the award on the December 31, 2023 Schedule of Findings and Questioned Costs.
De Minimis Rate Used: Y
Rate Explanation: Methodist Children's Home Society and Methodist Children's Home Society Supporting Organization have elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Methodist Children's Home Society and Methodist Children’s Home Society Supporting Organization under programs of the federal government for the year ended December 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 Methodist Children's Home Society and Methodist Children’s Home Society Supporting
Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Methodist Children's Home Society and Methodist Children’s Home Society Supporting Organization.
Title: Reconciliation to the Financial Statements
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 where certain types of expenditures are not allowable or are limited as to reimbursement. Management expended $72,383 for the Disaster Grants - Public Assistance at December 31, 2022. However, the Organization did not sign and approve the agreement until January 2023 and, accordingly, has included the award on the December 31, 2023 Schedule of Findings and Questioned Costs.
De Minimis Rate Used: Y
Rate Explanation: Methodist Children's Home Society and Methodist Children's Home Society Supporting Organization have elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The schedule of expenditures of federal awards reconciles to the combined statement of activities as follows:
Schedule of expenditures of federal awards: $2,350,330
Non-federal grants, contributions and programs: $9,601,697
Total government grants and fees: $11,952,027
Title: 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 where certain types of expenditures are not allowable or are limited as to reimbursement. Management expended $72,383 for the Disaster Grants - Public Assistance at December 31, 2022. However, the Organization did not sign and approve the agreement until January 2023 and, accordingly, has included the award on the December 31, 2023 Schedule of Findings and Questioned Costs.
De Minimis Rate Used: Y
Rate Explanation: Methodist Children's Home Society and Methodist Children's Home Society Supporting Organization have elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
No amouts were provided to subrecipients.