Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The Schedule is presented based on the accrual basis of accounting. Under the accrual basis of accounting, expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Rural Alabama Prevention Center, Inc. did not elect to use the de minimis indirect cost rate as allowed in the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal activity of the Rural Alabama Prevention Center, Inc. under the programs of the federal government for the year ended July 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 operations of the Organization, it is not intended to, and does not, present the financial position or changes in net assets of the Rural Alabama Prevention Center, Inc.