Notes to SEFA
Accounting Policies: Note 1 – Basis of Accounting
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Lifeline and is presented 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. The information is presented in accordance with 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the Schedule presents only a selected portion of the operations of Lifeline, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Lifeline.
De Minimis Rate Used: N
Rate Explanation: Note 2 – Indirect Cost Rate
Lifeline has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.