Title: 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is
described in Note 1 to the Organization’s consolidated financial statements for the year ended June 30,
2024. Such expenditures are recognized following the cost principles contained in accordance with the
Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Therefore, some amounts presented in this schedule may differ from amounts
presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the Organization did not elect to use the 10% de minimis cost
rate as covered in §200.414 of the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal
grant activity of Odyssey House Louisiana, Inc. (the Organization) under programs of the federal
government for the year ended June 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). Because the Schedule presents only a selected portion of the operations of the Organization,
it is not intended to and does not present the consolidated financial position, changes in net assets, or
cash flows of the Organization. The Organization’s reporting entity is defined in Note 1 to the
consolidated financial statements for the year ended June 30, 2024.
Title: 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is
described in Note 1 to the Organization’s consolidated financial statements for the year ended June 30,
2024. Such expenditures are recognized following the cost principles contained in accordance with the
Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Therefore, some amounts presented in this schedule may differ from amounts
presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the Organization did not elect to use the 10% de minimis cost
rate as covered in §200.414 of the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is
described in Note 1 to the Organization’s consolidated financial statements for the year ended June 30,
2024. Such expenditures are recognized following the cost principles contained in accordance with the
Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Therefore, some amounts presented in this schedule may differ from amounts
presented, or used in the preparation of, the basic financial statements.
Title: 3. Relationships to Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is
described in Note 1 to the Organization’s consolidated financial statements for the year ended June 30,
2024. Such expenditures are recognized following the cost principles contained in accordance with the
Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Therefore, some amounts presented in this schedule may differ from amounts
presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the Organization did not elect to use the 10% de minimis cost
rate as covered in §200.414 of the Uniform Guidance.
Federal awards are included in Program Revenue – Cost Reimbursement in the consolidated statement
of activities for the year ended June 30, 2024 are as follows.
Title: 4. De Mimis Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is
described in Note 1 to the Organization’s consolidated financial statements for the year ended June 30,
2024. Such expenditures are recognized following the cost principles contained in accordance with the
Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Therefore, some amounts presented in this schedule may differ from amounts
presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the Organization did not elect to use the 10% de minimis cost
rate as covered in §200.414 of the Uniform Guidance.
During the year ended June 30, 2024, the Organization did not elect to use the 10% de minimis cost
rate as covered in §200.414 of the Uniform Guidance.