Notes to SEFA
Title: 1. GENERAL
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized fulfilling 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: The Organization elected to use the 10% de minimis indirect cost rate in reporting expenses.
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all federal award programs of Equinox, Inc. and Affiliates (the Organization) under programs of the federal government for the year ended December 31, 2023 and has been prepared in conformity with
accounting principles generally accepted in the United States of America. The information in the 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, change in net assets, or cash flows of the
Organization.
Title: 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized fulfilling 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: The Organization elected to use the 10% de minimis indirect cost rate in reporting expenses.
Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized fulfilling cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: 3. INDIRECT COST RATE
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized fulfilling 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: The Organization elected to use the 10% de minimis indirect cost rate in reporting expenses.
The Organization elected to use the 10% de minimis indirect cost rate in reporting expenses.
Title: 4. MATCHING COSTS
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized fulfilling 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: The Organization elected to use the 10% de minimis indirect cost rate in reporting expenses.
Matching costs, i.e., the Organization’s share of certain program costs, are not included in the reported expenditures.