Notes to SEFA
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal award
activity of Boys & Girls Club of Skagit County 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 (Uniform Guidance). Because the Schedule presents only a selected portion of
the operations of Boys & Girls Club of Skagit County, it is not intended to and does not present the financial
position, changes in net assets, or cash flows of Boys & Girls Club of Skagit County.
De Minimis Rate Used: N
Rate Explanation: N
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. During the year ended December 31, 2023, there were no
funds passed through to subrecipients.