Notes to SEFA
Accounting Policies: Basis Of Presentation
The preceding schedule of expenditures of federal awards includes the federal
grant activity of IHDCC and is presented on the cash basis of accounting. 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). Therefore, some amounts presented in this schedule may
differ from amounts presented in, or used in, the preparation of IHDCC and its
Subsidiaries’ consolidated financial statements. IHDCC and its Subsidiaries is not a direct recipient, but rather a sub-recipient of all funds received from federal organizations. Therefore, all awards reported on the schedule are from pass-through sources.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.