Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance. The cost principles indicate that certain types of expenditures are not allowable and certain allowable costs are limited as to reimbursement. Eddy House has not elected to the use 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Eddy House has not elected to the use 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity for Eddy House under programs of the federal government for the year ended June 30, 2024 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 and Title 45 U.S. Code of Federal Regulations Part 75, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for HHS Awards (Uniform Guidance). Because the SEFA only presents a selected portion of the operations of Eddy House, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Eddy House.