Notes to SEFA
Title: NOTE 1 – BASIS OF ACCOUNTING
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the North Sound BH-ASO’s financial statements. The North Sound BH-ASO uses the modified accrual basis of accounting for government funds.
De Minimis Rate Used: Y
Rate Explanation: Not Applicable
The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the North Sound BH-ASO’s financial statements. The North Sound BH-ASO uses the modified accrual basis of accounting for government funds.
Title: Note 2 – PROGRAM COSTS
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the North Sound BH-ASO’s financial statements. The North Sound BH-ASO uses the modified accrual basis of accounting for government funds.
De Minimis Rate Used: Y
Rate Explanation: Not Applicable
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the Sound Behavioral Organization’s portion, are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note 3 – INDIRECT COST RATE
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the North Sound BH-ASO’s financial statements. The North Sound BH-ASO uses the modified accrual basis of accounting for government funds.
De Minimis Rate Used: Y
Rate Explanation: Not Applicable
The North Sound BH-ASO has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance on our direct federal grant CFDA 93.912. It is not being taken on any other grant.