Notes to SEFA
Title: NOTE A -- BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting as described in Note A
to the basic financial statements. 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: Y
Rate Explanation: Pendleton Place, Inc. has elected to use the 10% de minimis indirect cost rate allowed under Uniform
Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award
activity of Pendleton Place, 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 (CFR) 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 B -- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting as described in Note A
to the basic financial statements. 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: Y
Rate Explanation: Pendleton Place, Inc. has elected to use the 10% de minimis indirect cost rate allowed under Uniform
Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting as described in Note A
to the basic financial statements. 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.
Title: NOTE C -- INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting as described in Note A
to the basic financial statements. 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: Y
Rate Explanation: Pendleton Place, Inc. has elected to use the 10% de minimis indirect cost rate allowed under Uniform
Guidance.
Pendleton Place, Inc. has elected to use the 10% de minimis indirect cost rate allowed under Uniform
Guidance.