Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: Accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: SEE FORM BEHIND FOR ANY ADDITIONAL INFORMATION.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Compass under programs of the federal government for the year ended December 31, 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), and is not intended to, and does not, present the financial position, change in net assets, or cash flows of Compass.
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: SEE FORM BEHIND FOR ANY ADDITIONAL INFORMATION.
Expenditures reported in the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular 122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE 3 INDIRECT COST RATE
Accounting Policies: Accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: SEE FORM BEHIND FOR ANY ADDITIONAL INFORMATION.
Compass has elected to use the 10 percent de minimis indirect cost rate for grants, where applicable, as allowed under the Uniform Guidance. For certain grants, Compass uses the indirect cost rate as provided for in the grant agreements.