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: Indiana Resource Center for Families with Special Needs, Inc. used the direct allocation method allowed under the Uniform Guidance. The organization has a small number of major functions and this method was deemed most accurate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activities of Indiana Resource Center for Families with Special Needs, Inc. The information in the 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Indiana Resource Center for Families with Special Needs, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Indiana Resource Center for Families with Special Needs, Inc.
Title: Summary of Significant Accounting Policies
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: Indiana Resource Center for Families with Special Needs, Inc. used the direct allocation method allowed under the Uniform Guidance. The organization has a small number of major functions and this method was deemed most accurate.
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.
Title: Indirect Cost Rate
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: Indiana Resource Center for Families with Special Needs, Inc. used the direct allocation method allowed under the Uniform Guidance. The organization has a small number of major functions and this method was deemed most accurate.
Indiana Resource Center for Families with Special Needs, Inc. has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Fair Market Value of Donated Personal Protective Equipment
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: Indiana Resource Center for Families with Special Needs, Inc. used the direct allocation method allowed under the Uniform Guidance. The organization has a small number of major functions and this method was deemed most accurate.
During the year ended June 30, 2024, Indiana Resource Center for Families with Special Needs, Inc. did not receive donated personal protective equipment from federal sources.