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 reimbursement.
De Minimis Rate Used: N
Rate Explanation: The organization uses the direct cost method for all grants.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule)
includes the federal grant activity of Three Oaks Homeless Shelter, Inc. under
programs of the federal government for the year ended June 30, 2022. 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 Three
Oaks Homeless Shelter, Inc., it is not intended to and does not present the financial
position, changes in net assets or cash flows of Three Oaks Homeless Shelter, Inc.
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 reimbursement.
De Minimis Rate Used: N
Rate Explanation: The organization uses the direct cost method for all grants.
Basis of accounting
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recog ized following the cost principles contained
in the Uniform Guidance, wherein certain
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 reimbursement.
De Minimis Rate Used: N
Rate Explanation: The organization uses the direct cost method for all grants.
Pass-through entity identifying numbers are presented where available.
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 reimbursement.
De Minimis Rate Used: N
Rate Explanation: The organization uses the direct cost method for all grants.
Indirect cost rate
Three Oaks Homeless Shelter, Inc. has elected not to use the 10 percent de minimis
indirect cost rate allowed under the Uniform Guidance.
Title: Fiscal Period Audited
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 reimbursement.
De Minimis Rate Used: N
Rate Explanation: The organization uses the direct cost method for all grants.
Single audit testing procedures were performed for program transactions occurring
during the year ended June 30, 2022.