Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. The expenditures for the program are reported in the schedule of expenditures of federal awards identify the federal funds received from the pass-through entities. The pass-through entities' identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: All costs of the Organization are charged to the foster care program and therefor the 10% de minimis indirect cost rate was not used.
The accompanying schedule of expenditures of federal awards includes the federal activity of Karing 4 Kids Foster Family Agency, Inc. 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. Because the schedule presents only a selected portion of the operations of Karing 4 Kids Foster Family Agency, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Karing 4 Kids Foster Family Agency, Inc.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. The expenditures for the program are reported in the schedule of expenditures of federal awards identify the federal funds received from the pass-through entities. The pass-through entities' identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: All costs of the Organization are charged to the foster care program and therefor the 10% de minimis indirect cost rate was not used.
Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. The expenditures for the program are reported in the schedule of expenditures of federal awards identify the federal funds received from the pass-through entities. The pass-through entities' identifying numbers are presented where available.