Notes to SEFA
Accounting Policies: BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards includes the federal award activity of the Prevent Child Abuse Pickens County, Inc. (the Organization) 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 the Prevent Child Abuse Pickens County, Inc. it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Prevent Child Abuse Pickens County, Inc. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: The federal expenditures are reported on the accrual basis of accounting. Therefore, expenditures were included that were incurred by the Organization during the year ended December 31, 2024, but weren’t reimbursed until after the year end. These expenditures were recognized in accordance with the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Furthermore, the Prevent Child Abuse Pickens County, Inc. has not elected to use the 10 percent nor 15 percent de minimis indirect cost rates for awards that were issued prior to October 1, 2024, and on or after October 1, 2024, respectively. Also, the Organization did not have any expenditures to subrecipients for the year ended December 31, 2024.
De Minimis Rate Used: N
Rate Explanation: Furthermore, the Prevent Child Abuse Pickens County, Inc. has not elected to use the 10 percent nor 15 percent de minimis indirect cost rates for awards that were issued prior to October 1, 2024, and on or after October 1, 2024, respectively.