Notes to SEFA
Title: SUMMARY OF AUDITOR’S RESULTS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting using accounting principles generally accepted in the United States of America. 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: Y
Rate Explanation: Asian American Center of Frederick has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
1. The auditor’s report expresses an unmodified opinion on whether the financial
statements of Asian American Center of Frederick were prepared in accordance with
GAAP.
2. No material weaknesses relating to the audit of the financial statements are reported in
the Report on Internal Control over Financial Reporting and on Compliance and Other
Matters Based on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards.
3. No instances of noncompliance material to the financial statements of Asian American
Center of Frederick, which would be required to be reported in accordance with
Government Auditing Standards, were disclosed during the audit.
4. No material weaknesses in internal control over major federal award programs are
reported in the Report on Compliance for Each Major Program and on Internal Control
over Compliance Required by the Uniform Guidance.
5. The auditor’s report on compliance for the major federal programs for Asian American
Center of Frederick expresses an unmodified opinion on all major federal programs.
6. Audit findings that are required to be reported in accordance with 2 CFR section
200.516(a) are reported in this Schedule.
7. The programs tested as major were: U.S. Department of Health and Human Services
for Community Programs to Improve Minority Health (Assistance Listing # 93.137)
and Public Health Training Centers Program (Assistance Listing # 93.516).
8. The threshold used for distinguishing between Type A and B programs was $750,000.
9. Asian American Center of Frederick does not qualify as a low-risk auditee.
Title: FINDINGS – FINANCIAL STATEMENT AUDIT
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting using accounting principles generally accepted in the United States of America. 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: Y
Rate Explanation: Asian American Center of Frederick has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
None
Title: FINDINGS AND QUESTIONED COSTS – MAJOR FEDERAL AWARD
PROGRAMS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting using accounting principles generally accepted in the United States of America. 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: Y
Rate Explanation: Asian American Center of Frederick has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
None