Notes to SEFA
Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on this schedule are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant
activity of Charitable Ventures of Orange County, Inc. dba Charitable Ventures (the
“Organization”) under programs of the federal government for the year ended December
31, 2023. 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 the Organization, it is not intended to and does not present the financial
position, changes in net assets, or cash flows of the Organization.
Title: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on this schedule are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on this 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 for
reimbursement.
Title: NOTE C – INDIRECT COST RATE
Accounting Policies: Expenditures reported on this schedule are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
Title: NOTE D – SUBRECIPIENTS
Accounting Policies: Expenditures reported on this schedule are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization did not provide federal awards to subrecipients.