Notes to SEFA
Title: NOTE 1, BASIS OF PRESENTATION
Accounting Policies: Expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, where in certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10 percent, or less deminimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Goodwill Industries of Wayne & Holmes Counties, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: NOTE 2, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, where in certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10 percent, or less deminimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.
Expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, where in certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
Title: NOTE 3, INDIRECT COST RATE
Accounting Policies: Expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, where in certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10 percent, or less deminimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.
The Organization has elected to use the 10 percent, or less deminimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.