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 reimbursements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Saint Francis Ministries, Inc. (formerly known as Saint Francis Community Services, Inc.) and its wholly‐owned subsidiaries (collectively, Saint Francis). The information in the Schedule is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
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 reimbursements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule are reported on either the accrual or cash basis of accounting depending upon the type of grant or contract. 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 reimbursements. Saint Francis has not elected to use the 10‐percent de minimis indirect cost rate allowable under the Uniform Guidance.
Title: Multiple Entities
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 reimbursements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Schedule includes the federal disbursements and expenses of the following entities:
Saint Francis Community and Family Services, Inc.
Saint Francis Community and Residential Services, Inc.
Saint Francis Community Services in Nebraska, Inc.
Saint Francis Community Services in Texas, Inc.
Saint Francis Community Services in Arkansas, Inc.
Saint Francis Community Services in Oklahoma, Inc.
The Government Auditing Standards and Uniform Guidance requirements for Bridgeway Apartments, Inc. were included in the report audited by other auditors, Maddox & Associates, APC, for the year ended June 30, 2024.