Notes to SEFA
Accounting Policies: Note 1 Basis of Presentation The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Identity Theft Resource Center 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 Identity Theft Resource Center, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Identity Theft Resource Center. Note 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 to reimbursement. Identity Theft Resource Center has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Note 3 Loans Outstanding The Organization did not have any loans outstanding as of December 31, 2023. Note 4 Cluser The Organization did not have any federal clusters for the year ended December 31, 2023. Note 5 Subrecipients The Organization did not have any subrecipients for the year ended December 31, 2023. Note 6 Exempt Status Identity Theft Resource Center is exempt from income taxation under Internal Revenue Code Section 501c3 and California Revenue Taxation Code Section 23701d.
De Minimis Rate Used: N
Rate Explanation: N/A