Notes to SEFA
Title: GENERAL INFORMATION
Accounting Policies: Prepared on the accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: Carson Valley has elected to use the 10% de minimus cost rate
The accompanying schedule of expenditures of federal, state, city and county awards (the "Schedule") presents the activities in all the federal, state, city and county award programs of Carson Valley Children's Aid for the year ended June 30, 2022. All financial assistance received directly from federal agencies as well as financial assistance passed through other governmental agencies or nonprofit organizations are included in the Schedule. The information in this Schedule is presented 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 (“Uniform Guidance”). During the year ended June 30, 2022, Carson Valley Children's Aid did not pass-through federal funding to subrecipients. Because the Schedule presents only a selected portion of the operations of Carson Valley Children's Aid, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Carson Valley Children's Aid.
Title: BASIS OF ACCOUNTING
Accounting Policies: Prepared on the accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: Carson Valley has elected to use the 10% de minimus cost rate
Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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: INDIRECT COSTS
Accounting Policies: Prepared on the accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: Carson Valley has elected to use the 10% de minimus cost rate
Carson Valley Children's Aid has elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.