Notes to SEFA
Title: Basis of Presntation
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, whereas certain types of expenditures are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: indirect cost rate allowed under the Uniform Guidance for the year ended June 30, 2024.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Arc of the Central Chesapeake Region, Inc. 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 Arc of the Central Chesapeake Region, Inc., it is not intended to and does not present the financial position, changes in net assets, functional expenses, or cash flows of The Arc of the Central Chesapeake Region, Inc.
Title: Summary of Significant Accounitng 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, whereas certain types of expenditures are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: indirect cost rate allowed under the Uniform Guidance for the year ended June 30, 2024.
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, whereas 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, whereas certain types of expenditures are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: indirect cost rate allowed under the Uniform Guidance for the year ended June 30, 2024.
The Arc of the Central Chesapeake Region, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance for the year ended June 30, 2024.
Title: Subrecipients
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, whereas certain types of expenditures are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: indirect cost rate allowed under the Uniform Guidance for the year ended June 30, 2024.
There were no awards passed through to subrecipients for the year ended June 30, 2024.