Notes to SEFA
Title: Basis of Presentation
Accounting Policies: 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. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: Home Repair Services of Kent County, Inc. has not elected to use the 10% de-minimis indirect rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Home Repair Services of Kent County, 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 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 Home Repair Services of Kent County, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Home Repair Services of Kent County, Inc.
Title: Reconciliation of Revenues from Federal Sources per Audited Financial Statements and Expenditures per the Schedule of Expenditures of Federal Awards
Accounting Policies: 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. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: Home Repair Services of Kent County, Inc. has not elected to use the 10% de-minimis indirect rate allowed under Uniform Guidance.
See the Notes to the SEFA for chart/table