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 Title 2 U.S. Code of Federal Regulations of the
Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: They have not elected to use the de minimus cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award
activity of the Places & Programs for Children, 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 (CRF) 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 Organization, it is not
intended to and does not present the financial position, changes in net assets, or cash flows of the
Organization.
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 Title 2 U.S. Code of Federal Regulations of the
Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: They have not elected to use the de minimus 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 Title 2 U.S. Code of Federal Regulations of the
Uniform Guidance, 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 Title 2 U.S. Code of Federal Regulations of the
Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: They have not elected to use the de minimus cost rate.
Places & Programs for Children, Inc. has not elected to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.