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 allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. Per the major program requirements, Bethany Early Learning Ministry is awarded a 15% administration fee on centers served and a per meal served fee on homes served.
De Minimis Rate Used: N
Rate Explanation: Bethany Early Learning Ministry has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Bethany Early Learning Ministry 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 Bethany Early Learning Ministry, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Bethany Early Learning Ministry.
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 allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. Per the major program requirements, Bethany Early Learning Ministry is awarded a 15% administration fee on centers served and a per meal served fee on homes served.
De Minimis Rate Used: N
Rate Explanation: Bethany Early Learning Ministry has elected not to use the 10% de minimus indirect cost rate 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 allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. Per the major program requirements, Bethany Early Learning Ministry is awarded a 15% administration fee on centers served and a per meal served fee on homes served.
Title: NOTE 3 – SUB-RECIPIENTS
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. Pass-through entity identifying numbers are presented where available. Per the major program requirements, Bethany Early Learning Ministry is awarded a 15% administration fee on centers served and a per meal served fee on homes served.
De Minimis Rate Used: N
Rate Explanation: Bethany Early Learning Ministry has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The Organization provided grants to approximately 70 licensed home day care providers and registered day care ministries for carrying out the federal program.
Title: NOTE 4 – 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 allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. Per the major program requirements, Bethany Early Learning Ministry is awarded a 15% administration fee on centers served and a per meal served fee on homes served.
De Minimis Rate Used: N
Rate Explanation: Bethany Early Learning Ministry has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Bethany Early Learning Ministry has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.