Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance with the exception of Provider Relief Fund (CFDA #93.498) expenditures which are being reported based on the PRF report as directed by the 2024 Compliance Supplement. As a result, some expenditures presented in this Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.
De Minimis Rate Used: Y
Rate Explanation: THE AUDITEE USED THE DE MINIMUS COST RATE.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of Blessing Corporate Services, Inc. and Affiliates under programs of the federal government for the year ended September 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).
Title: MULTIPLE TAXPAYER IDENTIFICATION NUMBERS
Accounting Policies: Expenditures reported on the Schedule are reported using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance with the exception of Provider Relief Fund (CFDA #93.498) expenditures which are being reported based on the PRF report as directed by the 2024 Compliance Supplement. As a result, some expenditures presented in this Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.
De Minimis Rate Used: Y
Rate Explanation: THE AUDITEE USED THE DE MINIMUS COST RATE.
The accompanying Schedule includes the federal expenditures of Blessing Corporate Services, Inc. and Affiliates reported under the following TINs:
Title: NONMONETARY ASSISTANCE
Accounting Policies: Expenditures reported on the Schedule are reported using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance with the exception of Provider Relief Fund (CFDA #93.498) expenditures which are being reported based on the PRF report as directed by the 2024 Compliance Supplement. As a result, some expenditures presented in this Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.
De Minimis Rate Used: Y
Rate Explanation: THE AUDITEE USED THE DE MINIMUS COST RATE.
Blessing Corporate Services, Inc. and Affiliates did not receive any federal noncash assistance, including donated personal protective equipment (unaudited), and had no federal insurance in effect during the year ended September 30, 2024.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance with the exception of Provider Relief Fund (CFDA #93.498) expenditures which are being reported based on the PRF report as directed by the 2024 Compliance Supplement. As a result, some expenditures presented in this Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.
De Minimis Rate Used: Y
Rate Explanation: THE AUDITEE USED THE DE MINIMUS COST RATE.
Blessing Corporate Services, Inc. and Affiliates did not disburse any federal funds to subrecipients during the year ended September 30, 2024.