Notes to SEFA
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of
Unlimited Choices, Inc. and is presented on the accrual basis of accounting and 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).
For purposes of this schedule, federal awards include both federal financial assistance received
directly from a federal agency, as well as federal funds received indirectly by UCI from a non-federal
agency or other organizations. Only the portion of program expenditures reimbursable with such
federal funds is reported in the accompanying schedule. Program expenditures in excess of the
maximum federal reimbursement authorized or the portion of program expenditures that were
funded with state, local or other non-federal funds are excluded from the accompanying schedule.
Because the Schedule presents only a selected portion of the operations of Unlimited Choices, Inc.,
it is not intended to and does not present the financial position, changes in net assets, or cash flows
of Unlimited Choices, Inc.
2. Summary of Significant 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.
De Minimis Rate Used: Y
Rate Explanation: Unlimited Choices, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed
under the Uniform Guidance.