Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: ExpendituresExpenditures reported in 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 as to reimbursement. Indirect Cost Allocation RateVillage Northwest Unlimited & Affiliate has elected not to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance.
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 grant activity of Village Northwest Unlimited & Affiliate under programs of the federal government for the year ended June 30, 2022. 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 combined operations of Village Northwest Unlimited & Affiliate, it is not intended to and does not present the combined financial position, changes in net assets or cash flows of Village Northwest Unlimited & Affiliate.