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 Uniform Guidance, Cost
principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or
are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The center used a negotiated rate of ten percent with the grantors for this program.
The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (the
Schedule) presents the activity of all federal and state award programs of Children First Community
Homes and Services, Inc., for the year ended June 30, 2023. The information in this schedule is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR)
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal awards, Audits of States, Local Governments, and Non-Profit Organizations. Because this
schedule presents only a selected portion of the operation of Children First Community Homes and
Services, Inc., it is not intended to and does not present the financial position, changes in net assets,
or cash flows of Children First Community Homes and Services, Inc.
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 Uniform Guidance, Cost
principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or
are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The center used a negotiated rate of ten percent with the grantors for this program.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance, Cost
principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or
are limited as to reimbursement.
Title: Note C – Federal Indirect Rate
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 Uniform Guidance, Cost
principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or
are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The center used a negotiated rate of ten percent with the grantors for this program.
The center used a negotiated rate of ten percent with the grantors for this program