Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: NOTE B - SUMMARY OF SIGNIFICANT 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 to reimbursement. Identifying numbers - Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: Note C - INDIRECT COSTS Management used the 10% de minimis indirect cost rate allowed under the Uniform Guidance
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of HopeSparks under programs of the federal government. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation (CFR) 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 HopeSparks, it is not intended to and does not present the financial position, changes in net assets, or cash flows of HopeSparks.
Title: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE B - SUMMARY OF SIGNIFICANT 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 to reimbursement. Identifying numbers - Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: Note C - INDIRECT COSTS Management used the 10% de minimis indirect cost rate 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 to reimbursement. Identifying numbers - Pass-through entity identifying numbers are presented where available.
Title: NOTE C – INDIRECT COSTS
Accounting Policies: NOTE B - SUMMARY OF SIGNIFICANT 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 to reimbursement. Identifying numbers - Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: Note C - INDIRECT COSTS Management used the 10% de minimis indirect cost rate allowed under the Uniform Guidance
Management used the 10% de minimis indirect cost rate allowed under the Uniform Guidance.