Notes to SEFA
Title: Relationship to Basic Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal, state, and local awards is presented using the accrual basis of accounting. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal, state, county and city funding agencies due those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Children's Choice, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Federal, state, and local awards expenditures are reported on the statement of functional expenses as program services. In certain programs, the expenditures reported in the basic financial statements may differ from expenditures reported in the schedule of federal, state, and local awards due to program expenditures exceeding grant or contract budget limitations which are not included as federal, state, county and city awards.
Title: General
Accounting Policies: The accompanying schedule of expenditures of federal, state, and local awards is presented using the accrual basis of accounting. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal, state, county and city funding agencies due those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Children's Choice, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal, state, and local awards presents the activities of all the federal, state, county and city financial assistance programs of Children's Choice, Inc. All financial assistance received directly from federal, state, county or city agencies as well as financial assistance passed through other government agencies are included on the schedule.