Notes to SEFA
Title: RECONCILIATION OF REVENUE REPORTED IN THE FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of Lutheran Child and Family Service of Michigan, Inc. d/b/a Wellspring Lutheran Services under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) 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 CFS, it is not intended to and does not present the financial position or changes in net position of CFS. 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. Negativeamounts (if any) shown on the Schedule represent adjustments or credit made in the normal course of business to amounts reported as expenditures. CFS has elected not to use the 10 percent de minimus indirect cost rate to recover costs as allowed under the Uniform Guidance. CFS does not have any subrecipients.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
TOTAL FEDERAL EXPENDITURES PER SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS $862,589; ADD NONFEDERAL SERVICE CONTRACTS $25,262,813; REVENUE PER FINANCIAL STATEMENTS - FEDERAL SOURCES $26,125,402