Notes to SEFA
Title: 1. Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Waypoint Maine, Inc. has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all
federal award programs of the Waypoint Maine, Inc. All federal awards received directly from
federal agencies as well as federal awards passed through other governmental agencies are
included on the schedule. The information in this schedule is presented in accordance with the
requirements of the Uniform Guidance. Because the schedule presents only a selected portion of
the operations of Waypoint Maine, Inc., it is not intended to and does not present the financial
position, changes in net assets, or cash flows of Waypoint Maine, Inc.
Title: 2. Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Waypoint Maine, Inc. has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual
basis of accounting.
Waypoint Maine, Inc. has not elected to use the 10% de minimis indirect cost rate allowed under
the Uniform Guidance.