Notes to SEFA
Title: NOTE 1 – GENERAL
Accounting Policies: The expenditures in the accompaying Schedule of Expenditures of Federal Awards are presented using the accrual basis of accounting. The accural basis regonizes expenses when they are inccurred.
De Minimis Rate Used: N
Rate Explanation: The Center did not recover its indirect cost using the 10% de minimis indirect cost rate provided under Section 200.414 of the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards included herein represents the activity of The Juvenile Transition Center, Inc.’s (“JTC”) federal grant programs. The information in this schedule is presented in accordance with the requirements the Uniform Guidance. Expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: NOTE 2 - INDIRECT COSTS
Accounting Policies: The expenditures in the accompaying Schedule of Expenditures of Federal Awards are presented using the accrual basis of accounting. The accural basis regonizes expenses when they are inccurred.
De Minimis Rate Used: N
Rate Explanation: The Center did not recover its indirect cost using the 10% de minimis indirect cost rate provided under Section 200.414 of the Uniform Guidance.
JTC has not elected to use the 10% de minimis cost rate allowed under the Uniform Guidance.
Title: NOTE 3 - BASIS OF ACCOUNTING
Accounting Policies: The expenditures in the accompaying Schedule of Expenditures of Federal Awards are presented using the accrual basis of accounting. The accural basis regonizes expenses when they are inccurred.
De Minimis Rate Used: N
Rate Explanation: The Center did not recover its indirect cost using the 10% de minimis indirect cost rate provided under Section 200.414 of the Uniform Guidance.
The expenditures in the accompanying Schedule of Expenditures of Federal Awards are presented using the accrual basis of accounting. The accrual basis recognizes expenses when they are incurred.
Title: NOTE 4 - CONTINGENCIES
Accounting Policies: The expenditures in the accompaying Schedule of Expenditures of Federal Awards are presented using the accrual basis of accounting. The accural basis regonizes expenses when they are inccurred.
De Minimis Rate Used: N
Rate Explanation: The Center did not recover its indirect cost using the 10% de minimis indirect cost rate provided under Section 200.414 of the Uniform Guidance.
Grant monies received and disbursed by JTC are for specific purposes and are subject to review by grantor agencies. Such audits may result in request for reimbursement due to disallowed expenditures. Based upon prior experience, JTC does not believe that such disallowances, if any, would have a material effect on the financial position of JTC. As of June 30, 2023, management is not aware of any material questioned or disallowed costs as a result of grant audits in process or completed.
Title: NOTE 5 – SUB-RECIPIENTS
Accounting Policies: The expenditures in the accompaying Schedule of Expenditures of Federal Awards are presented using the accrual basis of accounting. The accural basis regonizes expenses when they are inccurred.
De Minimis Rate Used: N
Rate Explanation: The Center did not recover its indirect cost using the 10% de minimis indirect cost rate provided under Section 200.414 of the Uniform Guidance.
JTC did not pass through any Federal grant funding to sub-recipients.