Notes to SEFA
Title: Note 1
Accounting Policies: Accrual Basis.
De Minimis Rate Used: N
Rate Explanation: Waived
The accompanying schedule of expenditures of federal awards includes the federal grant activity of First Stop under programs of the federal overnment for the year ended December 31, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regualtions 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 First Stop, it is not intended to and does not present the financial position, changes in net assets, or cash flows of First Stop. Expenditures in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of exspenditures are not allowable or are limited as to reimbursement. First Stop has elected to forego the 10% di minimus indirect cost rate, as allowed under the Uniform Guidance.