Notes to SEFA
Title: Note A - 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 Uniform Guidance and/ or 0MB Circular A0122, Cost Principles/hr Non-profit Organizations, wherein ce1iain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
The accompanying schedule of expenditures of federal awards includes the federal award activity of
Impact Life, Inc. under Substance Abuse and Mental Health Services Projects of Regional and
National Significance programs of the federal government for the year ended December 31 , 2023.
The information in this schedule is presented in accordance with the requirements of
Title 2 U.S. Code ofFederal regulations Paii 200, Un~fcmn Administrative Requirements, Cost
Principles and Audit Requirements.for Federal Awards (Uniform G-uidance ). Because the schedule
presents only a selected portion of the operations of Impact Life, Inc., it is not intended to and does
not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Note B - 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 Uniform Guidance and/ or 0MB Circular A0122, Cost Principles/hr Non-profit Organizations, wherein ce1iain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee 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 Uniform Guidance and/ or
0MB Circular A0122, Cost Principles/hr Non-profit Organizations, wherein ce1iain types of
expenditures are not allowable or are limited as to reimbursement.
Title: Note C - 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 Uniform Guidance and/ or 0MB Circular A0122, Cost Principles/hr Non-profit Organizations, wherein ce1iain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
The Impact Life, Inc. has elected to use the l 0% de minimis indirect cost rate allowed under the
Uniform Guidance.
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