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: Y
Rate Explanation: The auditeer used the de minimis cost rate
The accompanying schedule of expenditures of federal awards (“the schedule”) includes the federal award activity of The Georgia Chapter of the American Academy of Pediatrics 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 ii, 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 Georgia Chapter of the American Academy of Pediatrics, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Georgia Chapter of the American Academy of Pediatrics, 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: Y
Rate Explanation: The auditeer used the de minimis cost rate
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: INDIRECT COST RATE
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: Y
Rate Explanation: The auditeer used the de minimis cost rate
The Georgia Chapter of the American Academy of Pediatrics, Inc. has elected to use the 10% de minimis indirect cost rate allowed by the Uniform Guidance.