Notes to SEFA
Title: Scope of Presentation
Accounting Policies: Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: Teresa Gardens, Inc., has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule presents the expenditures incurred (and related awards received) by the Organization that are reimbursable under federal programs of federal agencies providing financial assistance and state awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal or state funds are reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule.
Title: Basis of Accounting
Accounting Policies: Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: Teresa Gardens, Inc., has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The expenditures included in the accompanying schedule were reported on an accrual basis of accounting. Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported included any property or equipment acquisitions incurred under the federal program. The Schedule was prepared from only the grant programs and, therefore, does not present the financial position or results of operations of the Organization
Title: Indirect Cost Rate
Accounting Policies: Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: Teresa Gardens, Inc., has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Teresa Gardens, Inc., has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.