Notes to SEFA
Title: 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.
Negative amounts shown on the Schedule represent adjustments or credits made in the
normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Partnership for Children of Wayne County, Inc. has elected to not use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") presents
the expenditures of all federal award programs of The Partnership for Children of Wayne
County, Inc. 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 of The Partnership for Children of Wayne County, Inc., it is not intended to and
does not present the financial position, changes in net assets, or cash flows of The Partnership
for Children of Wayne County, Inc.