Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Negative amounts shown on theschedule represent adjustments or credits made in the normal course of business to amounts reported asexpenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Combined Entities has elected not to use the 10 percent de minimis indirect cost rate allowed underthe Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards for the year ended December 31, 2021(the Schedule) presents expenditures of Central Services of the Roman Catholic Archbishop of Baltimore,a corporation sole of the State of Maryland, and other combined entities (the Combined Entities) chargedto federal awards programs. The information in this schedule is presented on the accrual basis ofaccounting and is 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 theCombined Entities, it is not intended to, and does not, present the financial position, changes in net assets,or cash flows of the Combined Entities.