Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the Federal contracts and grant activity of Metanoia and is presented on the accrual basis of accounting. 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"). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Metanoia does not use the de minimis cost rate
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the Federal contracts and grant activity of Metanoia and is presented on the accrual basis of accounting. 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"). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
Title: Note 2. Indirect Cost Rate
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the Federal contracts and grant activity of Metanoia and is presented on the accrual basis of accounting. 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"). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Metanoia does not use the de minimis cost rate
Metanoia does not utilize an indirect cost rate with respect to its federal programs.
Title: Note 3. Loan Programs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the Federal contracts and grant activity of Metanoia and is presented on the accrual basis of accounting. 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"). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Metanoia does not use the de minimis cost rate
Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at the end of the audit period with continuing compliance requirements included in the Schedule consist of: