Notes to SEFA
Accounting Policies: This schedule of expenditures of federal awards (the "Schedule") includes the federal activity of Cowden Street Collaborative, Inc., d/b/a Segue Institute of Rhode Island, under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. "Code of Federal Regulations (CFR), 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 Cowden Street Collaborative, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Cowden Street Collaborative, Inc.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: Y
Rate Explanation: Cowden Street Collaborative, Inc. has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.