Notes to SEFA
Title: Note 1. 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 and the cost principles established by the State of Florida Department of Financial Services, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Both
Rate Explanation: For certain grants, the amount expended includes an indirect cost recovery using an approved indirect cost rate of 12%. Kids In Distress, Inc. and Affiliates has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance for other contracts.
The accompanying schedule of expenditures of federal awards and state financial assistance (the Schedule) includes the federal awards and state financial assistance project activity of Kids In Distress, Inc. and Affiliates under programs of the federal government and the State of Florida 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) and the State of Florida Chapter 10.650, Rules of the Auditor General. Because the Schedule presents only a selected portion of the operations of Kids In Distress, Inc. and Affiliates, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Kids In Distress, Inc. and Affiliates.
Title: Note 2. 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 and the cost principles established by the State of Florida Department of Financial Services, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Both
Rate Explanation: For certain grants, the amount expended includes an indirect cost recovery using an approved indirect cost rate of 12%. Kids In Distress, Inc. and Affiliates has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance for other contracts.
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 and the cost principles established by the State of Florida Department of Financial Services, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note 3. 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 and the cost principles established by the State of Florida Department of Financial Services, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Both
Rate Explanation: For certain grants, the amount expended includes an indirect cost recovery using an approved indirect cost rate of 12%. Kids In Distress, Inc. and Affiliates has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance for other contracts.
For certain grants, the amount expended includes an indirect cost recovery using an approved indirect cost rate of 12%. Kids In Distress, Inc. and Affiliates has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance for other contracts.