Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal awards activity of Boys and Girls Clubs of Pueblo County (the BGCPueblo) underprograms for the federal government for the year ended December 31, 2022. The information inthis Schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of the BGCPueblo, it is not intended to and does not presentthe financial position, changes in net position, or cash flows of the BGCPueblo. Note 2: 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 UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement.? The BGCPueblo has elected not to use the 10 percent de minimis indirect cost rate asallowed under the Uniform Guidance.? During the year ended December 31, 2022, the BGC Pueblo did not provide any federalawards to subrecipients.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.