Notes to SEFA
Title: General
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting for expenditures. The cost principles contained in Subpart E -Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization’s summary of significant accounting policies is presented in Note 2 of the Organization’s basic financial statements. 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.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule) presents the activity of all federal financial assistance programs of Utah Afterschool Network, Inc. (the “Organization”). The reporting entity is defined in Note 1 to the basic financial statements. All federal awards received directly from federal agencies as well as federal awards passed-through other government agencies are included on the Schedule.
Title: Basis of Accounting
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting for expenditures. The cost principles contained in Subpart E -Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization’s summary of significant accounting policies is presented in Note 2 of the Organization’s basic financial statements. 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.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying Schedule is presented using the accrual basis of accounting for expenditures. The cost principles contained in Subpart E -Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization’s summary of significant accounting policies is presented in Note 2 of the Organization’s basic financial statements. 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: Indirect cost rate
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting for expenditures. The cost principles contained in Subpart E -Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization’s summary of significant accounting policies is presented in Note 2 of the Organization’s basic financial statements. 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.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The Organization has elected to use the 10 percent de minimum indirect cost rate allowed under the Uniform Guidance.
Title: Non-cash assistance
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting for expenditures. The cost principles contained in Subpart E -Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization’s summary of significant accounting policies is presented in Note 2 of the Organization’s basic financial statements. 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.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The Organization did not receive federal non-cash assistance during the period presented.