Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: 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: Kentucky Association of Sexual Assault Programs, Inc. has elected not to use the 10 or 15 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (schedule) includes the federal award activity of Kentucky Association of Sexual Assault Programs, Inc. under programs of the federal government for the year ended December 31, 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 Kentucky Association of Sexual Assault Programs, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Kentucky Association of Sexual Assault Programs, Inc.
Title: NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: 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: Kentucky Association of Sexual Assault Programs, Inc. has elected not to use the 10 or 15 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
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.
Title: NOTE C - INDIRECT COST RATE
Accounting Policies: 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: Kentucky Association of Sexual Assault Programs, Inc. has elected not to use the 10 or 15 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
Kentucky Association of Sexual Assault Programs, Inc. has elected not to use the 10 or 15 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE D - COVID-19 FUNDS
Accounting Policies: 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: Kentucky Association of Sexual Assault Programs, Inc. has elected not to use the 10 or 15 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
The Kentucky Association of Sexual Assault Programs, Inc. received funds related to Covid funding as follows: