Notes to SEFA
Title: NOTE A – 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 types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Hope House Day Care Center, Inc. has elected to use the de minimis indirect cost rate of 10% as
described in the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the grant
activity of Hope House Day Care Center, Inc. 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 for Hope House Day Care Center, Inc., it is not
intended to and does not present the financial position, changes in net assets, or cash flows of Hope
House Day Care Center, Inc.
Title: NOTE B – 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 types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Hope House Day Care Center, Inc. has elected to use the de minimis indirect cost rate of 10% as
described in the Uniform Guidance.
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.
Title: NOTE C – 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 types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Hope House Day Care Center, Inc. has elected to use the de minimis indirect cost rate of 10% as
described in the Uniform Guidance.
Hope House Day Care Center, Inc. has elected to use the de minimis indirect cost rate of 10% as
described in the Uniform Guidance.
Title: NOTE D – 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 types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Hope House Day Care Center, Inc. has elected to use the de minimis indirect cost rate of 10% as
described in the Uniform Guidance.
Hope House Day Care Center, Inc. did not pass any awards through to subrecipients for the year ended
June 30, 2024.