Notes to SEFA
Accounting Policies: Basis of presentation The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures on an accrual basis of Camfield Tenants Association, Inc. (a Massachusetts non-profit corporation) under programs of the federal government for the year ended December 31, 2023. The information in the Schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements. Summary of significant accounting policies Basis of accounting Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance; wherein certain types of expenditures are not allowed. Assistance Listing numbers are provided when available.
De Minimis Rate Used: N
Rate Explanation: The Corporation elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.