Notes to SEFA
Title: Note 1 - Basis of Presentation
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 allowed or are limited as to reimbursement.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Agency has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity
of Asian Counseling and Referral Service (the Agency) under programs of the federal government for the year
ended December 31, 2023. The information in the Schedule is presented in accordance with the requirements of
Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected
portion of the operations of the Agency, it is not intended to and does not present the financial position, changes
in net assets, or cash flows of the Agency.
Title: Note 2 - Summary of Significant Accounting Policies
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 allowed or are limited as to reimbursement.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Agency has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
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 allowed or are limited as to reimbursement.
Pass-through entity identifying numbers are presented where available.
Title: Note 3 - Indirect Cost Rate
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 allowed or are limited as to reimbursement.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Agency has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
The Agency has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.