Notes to SEFA
Accounting Policies: Basis of Presentation: The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Orchard Foundation and is presented on the accrual basis of accounting, which is the same basis of accounting used for the presentation of the financial statements. 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.The Orchard Foundation did not pass through any of its federal awards to a subrecipient during the fiscal year, nor did it expend any federal awards in the form of noncash assistance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The Orchard Foundation did not elect to use the 10% de minimis rate; instead, it used an approved indirect cost rate of 2% of direct costs during the year ended December 31, 2023