Notes to SEFA
Title: SUB-RECIPIENT
Accounting Policies: BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (Schedule) is presented on theaccrual basis of accounting, which is the same basis of accounting used for financial reportingpurposes. The Schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Expenditures are recognized following thecost principles contained in the Uniform Guidance. Because the Schedule presents only a selectedportion of the operations of the Poverello, it is not intended to and does not present the financialposition, changes in net assets, or cash flows of the Poverello.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
No federal funds were passed to sub-recipients during the year ended December 31, 2022.