Notes to SEFA
Accounting Policies: 1. Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Jesuit Volunteer Corps Northwest under programs of the federal government for the year ended July 31, 2022. 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Jesuit Volunteer Corps Northwest, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Jesuit Volunteer Corps Northwest. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between Jesuit Volunteer Corps Northwest and agencies and departments of the Federal Government and all sub-awards to the organization by non-federal organizations pursuant to federal grants, contracts and similar agreements. 2.Summary of Significant 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.