Notes to SEFA
Title: 1. 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 in the Uniform Guidance or the TxGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: DCFOF has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance and TxGMS and continues to use the cost allocation plan negotiated individually with its grantors, as applicable.
The accompanying schedule of expenditures of federal and state awards (Schedule) includes the federal and state grant activity of Denton County Friends of the Family, Inc. (DCFOF). The information in this schedule is presented in accordance with the audit 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) and the Texas Grant Management Standards (TxGMS). Because the Schedule only presents a selected portion of the operations of DCFOF, it is not intended and does not present the financial position, changes in net assets, or cash flows of DCFOF.
Title: 2. 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 in the Uniform Guidance or the TxGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: DCFOF has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance and TxGMS and continues to use the cost allocation plan negotiated individually with its grantors, as applicable.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance or the TxGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement. DCFOF has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance and TxGMS and continues to use the cost allocation plan negotiated individually with its grantors, as applicable.
Title: 3. Reconciliation of Schedule to Consolidated Statement of Activities
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance or the TxGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: DCFOF has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance and TxGMS and continues to use the cost allocation plan negotiated individually with its grantors, as applicable.
The Organization received a grant totaling $5,064,038 that was included in government grant and contracts revenue on the consolidated statement of activities that was not subject to the audit requirements of the Uniform Guidance or the TxGMS and therefore, was are not included on the Schedule.