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. Family, Inc. and Subsidiaries has elected not to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Family, Inc. and Subsidiaries has elected not to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (schedule) includes the federal award activity of Family, Inc. and Subsidiaries 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. 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 Family, Inc. and Subsidiaries, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Family, Inc. and Subsidiaries
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. Family, Inc. and Subsidiaries has elected not to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Family, Inc. and Subsidiaries has elected not to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
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. Family, Inc. and Subsidiaries has elected not to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE C - COVID-19 FUNDS
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. Family, Inc. and Subsidiaries has elected not to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Family, Inc. and Subsidiaries has elected not to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
Family, Inc. and Subsidiaries received funds related to COVID-19 funding as follows:
Program
Assistance Listing Number
Amount
$
Coronavirus State and Local Fiscal Recovery Funds
21.027
$21,656