Notes to SEFA
Title: Note A - 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. Boys & Girls Clubs of the Ocoee Region has elected
not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
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De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and state grant activity of Boys & Girls Clubs
of the Ocoee Region and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of
Title 2 U.S. Cod of federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
(Uniform Guidance). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Note B - Summary of Significant Accounting Policies
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. Boys & Girls Clubs of the Ocoee Region has elected
not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
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De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
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. Boys & Girls Clubs of the Ocoee Region has elected
not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
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