Notes to SEFA
Title: Note 1. Basis of Presentation
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, wherein certain expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: Arc does not charge indirect costs to its federal awards. As such, Arc does not use the 10% de minimis cost rate option.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of The Arc Baltimore, Inc. (Arc) 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 portion of the operations of Arc, it is not intended to and does not present the financial position, changes in net assets or cash flows of Arc.
Title: Note 2. Summary of Significant Accounting Policies
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, wherein certain expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: Arc does not charge indirect costs to its federal awards. As such, Arc does not use the 10% de minimis cost rate option.
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 expenditures are not allowable or are limited as to reimbursements.
Title: Note 3. Indirect Cost Rate
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, wherein certain expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: Arc does not charge indirect costs to its federal awards. As such, Arc does not use the 10% de minimis cost rate option.
Arc does not charge indirect costs to its federal awards. As such, Arc does not use the 10% de minimis cost rate option.
Title: Note 4. Subrecipients
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, wherein certain expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: Arc does not charge indirect costs to its federal awards. As such, Arc does not use the 10% de minimis cost rate option.
There were no amounts passed through to subrecipients for the year ended June 30, 2024.