Notes to SEFA
Title: Basis of Presentation
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: ABC has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Association to Benefit Children (ABC) 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 operations of ABC, it is not intended to and does not present the combining financial position, changes in net assets, or cash flows of ABC.This Schedule does not include the federal awards of Association to Benefit Children - Housing Development Fund Corporation, as it perform its own Uniform Guidance audit.
Title: Entities Included in the Schedule
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: ABC has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule includes the following entities as identified by individual tax identification number (TIN) and entity name: 133303089Association to Benefit Children
Title: Provider Relief Fund and American Rescue Plan Rural Distribution
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: ABC has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule includes Provider Relief Fund and American Rescue Plan (APR) Rural Distribution program expenditures of $41,597. These are out-of-period expenditures, which are reported in accordance with the terms and conditions included in the U.S. Department of Health and Human Services Post-Payment Notice of Reporting Requirements specific to the Provider Relief Fund and ARP Rural Distribution program. The amount in the Schedule does not include lost revenue, and out-of-period expenditures are not permitted concept under U.S. GAAP.