Notes to SEFA
Title: Subrecipients
Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of VANTAGE Aging (the Organization) under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of VANTAGE Aging; it is not intended to and does not present the financial position, changes in net assets, functional expenses, or cash flows of VANTAGE Aging.Basis of Accounting 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization does not pass certain federal awards received to another not-for-profit, as noted on the supplemental schedule of expenditures of federal awards.
Title: NON-CASH ASSISTANCE, LOANS OUTSTANDING, AND INSURANCE
Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of VANTAGE Aging (the Organization) under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of VANTAGE Aging; it is not intended to and does not present the financial position, changes in net assets, functional expenses, or cash flows of VANTAGE Aging.Basis of Accounting 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization did not receive any federal non-cash assistance, federal loans or federal insurance for the year ended September 30, 2022.