Notes to SEFA
Accounting Policies: The schedule of expenditures of federal awards ("the schedule") includes the federal grant activity of Ozone House, Inc. ("Ozone House") under programs of the federal government for the year ended September 30, 2022. 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). The schedule of expenditures of federal awards has been prepared 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. Negative amounts, if any, appear on the schedule to represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Ozone House has not elected to use the option of the 10% de minimis indirect cost rate covered in 2 U.S. Code of Federal Regulations Part 200, Subpart E, Cost Principles.