Notes to SEFA
Title: Note 1 Basis of Presentation
Accounting Policies: Note 2 Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles in the Uniform Guidance, wherein certain typesof expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifyingnumbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awardactivity of Enterprise for Progress in the Community (EPIC) under programs of the federal government forthe year ended December 31, 2022. The information in this Schedule is presented in accordance with therequirements of Title 2, U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Becausethe Schedule presents only a selected portion of the operations of EPIC, it is not intended to and does notpresent the financial position, changes in net assets without donor restrictions, or cash flows of EPIC.