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, as applicable, either the cost principles in the Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or 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 Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The purpose of the accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (the “Schedule”) is to present, in summary form, total federal award expenditures and state financial assistance received by Lifestream Behavioral Center, Inc. (the “Organization”) for the year ended June 30, 2024, that have been funded under various federal award programs and state financial assistance projects. The Schedule is prepared on the accrual basis of accounting. Because the Schedule presents only a select portion of the activities of the Organization, it is not intended to, and does not, present the total expenditures of the Organization.
Title: NOTE 2 -CONTINGENCY
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in the Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or 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 Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The grant revenue amounts received are subject to audit and adjustment. If any expenditure is disallowed by the grantor agencies as a result of such an audit, any claim or reimbursement to the grantor agencies would become a liability of the Organization. In the opinion of the Organization’s management, all grant expenditures are in compliance with the terms of the grant agreements and applicable federal and state laws and regulations.
Title: NOTE 3 -INDIRECT COST RATE ELECTION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in the Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or 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 Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization did not elect to use the de minimis rate of 10% for determining indirect cost amounts for its federal programs.