Notes to SEFA
Title: Organization and Scope, Summary of Significant Accounting Policies
Accounting Policies: Organization and Scope, Summary of Significant Accounting Policies
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate because it not applicable to the auditee's financial reporting.
The WRC, Inc. isw a nonprofit corporation established to eliminate sexual assault abuse and domestic violence through advocacy, education, system changte and empowering services to all survivors. The Center provides sexual assault and domestic violence intervention services 24 hours a day, emergency safe house services, transitional and rapid rehousing services, civil legal representation services and counseling to adult, teen, and child victims of domestic and sexual violence. The Center's federally funded grants are audited in accordance with the Single Audit Act and OMB-Cirecular A-133. Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards includes all significant federally funded grant programs of the Center and has been prepared on the accrual basis of accounting. Accrued and Deferred Reimbursement - Various reimbursements procedures are used fro Federal awards received by the Center. Timing differences may occur between expenditures and reimbursements during a year. Accrued revenues at year-end represent an excess of expenditures over cash reibursements received. Deferred revenues at year0end represent an excess of cash received over eligible program expenditures. Generally, accrued and deferred amounts caused by timing differences will be reversed in the subsequent year.