Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “schedule”) includes the federal grant activity of Easterseals MORC, Inc. and Subsidiaries 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 (the “Uniform Guidance”). Because the schedule presents only a selected portion of the operations of Easterseals MORC, Inc. and Subsidiaries, it is not intended to and does not present the financial position, changes in assets or cash flows of Easterseals MORC, Inc. and Subsidiaries. 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: Y
Rate Explanation: The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance
The accompanying Schedule of Expenditures of Federal Awards (the “schedule”) includes the federal grant activity of Easterseals MORC, Inc. and Subsidiaries 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 (the “Uniform Guidance”). Because the schedule presents only a selected portion of the operations of Easterseals MORC, Inc. and Subsidiaries, it is not intended to and does not present the financial position, changes in assets or cash flows of Easterseals MORC, Inc. and Subsidiaries.
Title: NOTE – 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “schedule”) includes the federal grant activity of Easterseals MORC, Inc. and Subsidiaries 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 (the “Uniform Guidance”). Because the schedule presents only a selected portion of the operations of Easterseals MORC, Inc. and Subsidiaries, it is not intended to and does not present the financial position, changes in assets or cash flows of Easterseals MORC, Inc. and Subsidiaries. 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: Y
Rate Explanation: The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance
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: NOTE – 3 INDIRECT COST RATE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “schedule”) includes the federal grant activity of Easterseals MORC, Inc. and Subsidiaries 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 (the “Uniform Guidance”). Because the schedule presents only a selected portion of the operations of Easterseals MORC, Inc. and Subsidiaries, it is not intended to and does not present the financial position, changes in assets or cash flows of Easterseals MORC, Inc. and Subsidiaries. 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: Y
Rate Explanation: The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance
The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE – 4 SUBSEQUENT EVENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “schedule”) includes the federal grant activity of Easterseals MORC, Inc. and Subsidiaries 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 (the “Uniform Guidance”). Because the schedule presents only a selected portion of the operations of Easterseals MORC, Inc. and Subsidiaries, it is not intended to and does not present the financial position, changes in assets or cash flows of Easterseals MORC, Inc. and Subsidiaries. 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: Y
Rate Explanation: The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance
All subsequent events relative to the major programs were evaluated through January 9, 2025, the date the accompanying reports were available to be issued.