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.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance; rather, the Corporation allocates its costs pursuant to a cost allocation plan.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Hope Enterprises, Inc. and Affiliate (the Corporation) under programs of the federal government 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 Corporation, it is not intended to and does not present the financial position, change in net assets or cash flows of the Corporation.
Title: Pennsylvania Department of Health - Funding Reconciliation
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.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance; rather, the Corporation allocates its costs pursuant to a cost allocation plan.
During the year ended June 30, 2024, the Corporation received funding for the Special Supplemental Nutrition Program for Women, Infants, and Children passed through from the Pennsylvania Department of Health. The activity for the year ended June 30, 2024, is detailed on page 25 of the audit report.