Notes to SEFA
Title: Reconciliation of the Schedule of Expenditures of Federal Awards to the Con
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein some types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Goodwill does not use the 10% de minimis indirect rate allowed in the Uniform Guidance, section 414, except for indirect costs reimbursed under the following programs: Youth Homelessness Demonstration Program (Assistance Listing #14.276), WIOA Youth Activities - contract 211-400-22 (Assistance Listing #17.259), Compass Rose Program (Assistance Listing #17.270), Work Incentives Planning and Assistance Program (Assistance Listing #96.008).
The following schedule is a reconciliation of the total expenditures of federal awards as shown on the schedule of expenditures of federal awards to the revenue shown as state and federal revenue on the consolidated statement of activities and changes in net assets, which is included as part of Goodwill's basic financial statements.Governmental revenue on the consolidated statement of activities and changes in net assets $ 11,620,831, Less - other sources of revenue not federally funded (6,463,763),Expenditures per schedule of expenditure of federal awards $ 5,157,068
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein some types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Goodwill does not use the 10% de minimis indirect rate allowed in the Uniform Guidance, section 414, except for indirect costs reimbursed under the following programs: Youth Homelessness Demonstration Program (Assistance Listing #14.276), WIOA Youth Activities - contract 211-400-22 (Assistance Listing #17.259), Compass Rose Program (Assistance Listing #17.270), Work Incentives Planning and Assistance Program (Assistance Listing #96.008).
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Goodwill Industries of Kentucky, Inc. and Subsidiaries under programs of the federal government for the year ended December 31, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations ("CFR") Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance"). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.