Notes to SEFA
Title: Note A – Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards 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. Negative amounts
shown on the Schedule of Expenditures of Federal Awards represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: WINGS for Kids has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award
activity of WINGS for Kids under programs of the federal government for the year ended June 30, 2024. The
information in this Schedule is presented in accordance with the requirements of 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 WINGS
for Kids, it is not intended to and does not present the financial position, changes in net assets, or cash flows of
WINGS for Kids.
Title: Note B – Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards 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. Negative amounts
shown on the Schedule of Expenditures of Federal Awards represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: WINGS for Kids has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Expenditures reported on the Schedule of Expenditures of Federal Awards 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. Negative amounts
shown on the Schedule of Expenditures of Federal Awards represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years.
Title: Note C – Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards 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. Negative amounts
shown on the Schedule of Expenditures of Federal Awards represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: WINGS for Kids has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
WINGS for Kids has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.