Notes to SEFA
Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on this Schedule are reflected 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.
De Minimis Rate Used: N
Rate Explanation: Goodwill of Delaware and Delaware County, Inc., has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Goodwill of Delaware and Delaware County, Inc., has allocated indirect costs within the requirements provided by the various contracts and grant agreements.
The accompany schedule of expenditures of federal awards (Schedule) includes the federal award activity of Goodwill of Delaware and Delaware County, Inc., 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 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 Goodwill of Delaware and Delaware County, Inc., the Schedule is not intended to and does not present the financial position, changes in net assets, or cash flows of Goodwill of Delaware and Delaware County, Inc.
Title: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on this Schedule are reflected 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.
De Minimis Rate Used: N
Rate Explanation: Goodwill of Delaware and Delaware County, Inc., has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Goodwill of Delaware and Delaware County, Inc., has allocated indirect costs within the requirements provided by the various contracts and grant agreements.
Expenditures reported on this Schedule are reflected 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. Goodwill of Delaware and Delaware County, Inc., has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Goodwill of Delaware and Delaware County, Inc., has allocated indirect costs within the requirements provided by the various contracts and grant agreements.