Notes to SEFA
Accounting Policies: Note A – Basis of Presentation
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award
activity of Hermanitos Unidos Siblings United Foster Family Agency 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 Hermanitos Unidos
Siblings United Foster Family Agency, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of Hermanitos Unidos Siblings United Foster Family Agency.
Note B – 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 as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Note C – De Minimis Indirect Cost Rate
Hermanitos Unidos Siblings United Foster Family Agency, has not elected to use the 10% de minimis
indirect cost rate allowed under the Uniform Guidance.