Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to LifeWays' financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance or other applicable guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: For purposes of charging indirect costs to federal awards, LifeWays has elected to use the 10% de minimis cost rate as permitted by §200.414 of the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of LifeWays under programs of the federal government for the year ended September 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 LifeWays, it is not intended to and does not present the financial position, changes in net position or cash flows of LifeWays.
Title: PASS-THROUGH AGENCIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to LifeWays' financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance or other applicable guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: For purposes of charging indirect costs to federal awards, LifeWays has elected to use the 10% de minimis cost rate as permitted by §200.414 of the Uniform Guidance.
LifeWays receives certain federal grants as subawards from non-federal entities. Pass-through entities, where applicable, have been identified in the schedule with an abbreviation, defined as follows:
MDHHS Michigan Department of Health and Human Services
MSHN Mid State Health Network
Title: FUNDS PROVIDED TO SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to LifeWays' financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance or other applicable guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: For purposes of charging indirect costs to federal awards, LifeWays has elected to use the 10% de minimis cost rate as permitted by §200.414 of the Uniform Guidance.
Funds were received by LifeWays in the amount of $14,726 and distributed to one subrecipient; A.R.E., Inc.
Title: RECONCILIATION TO FINANCIAL STATEMENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to LifeWays' financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance or other applicable guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: For purposes of charging indirect costs to federal awards, LifeWays has elected to use the 10% de minimis cost rate as permitted by §200.414 of the Uniform Guidance.
Grants revenue reported in the financial statements includes revenues from federal, state, and local sources. A reconciliation of the grants revenue to federal expenditures reported on the Schedule is as follows:
Grants revenue per financial statements $2,219,677
Less state and local grants (671,892)
Total expenditures of federal awards $1,547,785