Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are presented on the accrual basis of accounting, the same basis of accounting and the same significant accounting policies as applicable, as those used in the preparation of the Organization’s financial statements.
De Minimis Rate Used: Y
Rate Explanation: Entity used the 10% de minimus rate as allowed under the Uniform Guidance
The accompanying Schedule of Expenditures of Federal Awards includes the federal award activity of Mental Health Association of South Mississippi under programs of the federal government for the year ended December 31, 2023. 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 Organization, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are presented on the accrual basis of accounting, the same basis of accounting and the same significant accounting policies as applicable, as those used in the preparation of the Organization’s financial statements.
De Minimis Rate Used: Y
Rate Explanation: Entity used the 10% de minimus rate as allowed under the Uniform Guidance
Expenditures reported on the Schedule are presented on the accrual basis of accounting, the same basis of accounting and the same significant accounting policies as applicable, as those used in the preparation of the Organization’s financial statements.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are presented on the accrual basis of accounting, the same basis of accounting and the same significant accounting policies as applicable, as those used in the preparation of the Organization’s financial statements.
De Minimis Rate Used: Y
Rate Explanation: Entity used the 10% de minimus rate as allowed under the Uniform Guidance
The Organization elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are presented on the accrual basis of accounting, the same basis of accounting and the same significant accounting policies as applicable, as those used in the preparation of the Organization’s financial statements.
De Minimis Rate Used: Y
Rate Explanation: Entity used the 10% de minimus rate as allowed under the Uniform Guidance
The Organization did not have any non-cash awards or subrecipients during the fiscal year.