Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) presents the activity of federal expenditures of programs of the Friendship of Women, Inc. (the “Organization”). The Organization’s reporting entity is defined in Note 1 to the basic financial
statements. The accompanying Schedule is presented using the accrual basis of accounting for federal awards reflected in the Organization's activities.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis cost rate as allowed in the Uniform Guidance.