Notes to SEFA
Title: Relationship to Federal Financial Reports
Accounting Policies: Summary of Significant Accounting Policies
(a) Reporting Entity
The Schedule of Expenditures of Federal Awards (the “Schedule”) includes the
activity of all federal programs administered by Hope’s Door New Beginning Center
(the “Organization”). The Organization is defined in Note 1 of the basic financial
statements.
(b) Basis of Presentation
The Schedule presents total federal awards expended for each individual program in
accordance with the Uniform Guidance.
(c) Basis of Accounting
The expenditures for each of the federal financial assistance programs are presented
on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: THE ORGANIZATION HAS NO INDIRECT COSTS.
The amounts reported in the financial reports agree with the amounts reported in the accompanying Schedule which is prepared on the basis explained in Note 1 of the Organization’s financial statements.