Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: NOTE 1 BASIS OF PRESENTATION - ACCRUAL BASIS
De Minimis Rate Used: N
Rate Explanation: THE ENTITY DID NOT ELECT TO USE THE DE MINIMIS COST RATE
The schedule of expenditures of federal awards includes federal grant and loan activity of Play School Day Care Center, Inc.,and is presented on the accrual basis of accounting. This information 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, Audits of States, Local Governments, and Non-Profit Organizations.
Title: NOTE 2 INDIRECT COST
Accounting Policies: NOTE 1 BASIS OF PRESENTATION - ACCRUAL BASIS
De Minimis Rate Used: N
Rate Explanation: THE ENTITY DID NOT ELECT TO USE THE DE MINIMIS COST RATE
- The Entity did not elect to use the 10% de minimis indirect cost rate