Notes to SEFA
Title: INDIRECT COST RATE
Accounting Policies: BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of The Family Tree Information, Education and Counseling Center, Inc. under programs of the federal government for the year ended December 31, 2023. 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 the Center, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Center.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(1) 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 reimbursements.
(2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: They elected not to use the de minimis rate
The Center has elected to use the 10% de minimis indirect cost rate for the year ended December 31, 2023.