Notes to SEFA
Title: INDIRECT COST
Accounting Policies: BASIS OF PRESENTATION-The accompanying schedule of expenditures of federal award (the “Schedule”) includes the federal awards activity of Father Incorporated., (hereinafter “Organization”), under programs of the federal government for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of the 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. 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, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: N/a
To charge indirect costs to a federal award, the Organization has not prepared or submitted an indirect cost proposal as permitted by CFR 200.414 of the Uniform Guidance, nor elected the 10%
minimis indirect cost rate.
Title: SUBRECIPIENTS
Accounting Policies: BASIS OF PRESENTATION-The accompanying schedule of expenditures of federal award (the “Schedule”) includes the federal awards activity of Father Incorporated., (hereinafter “Organization”), under programs of the federal government for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of the 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. 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, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: N/a
For the year ended December 31, 2023, the Organization did not provide federal awards to any subrecipients.