Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (the “Schedule”) includes the Federal and State grant activity of Circles of Care, Inc. (“CoC”), and is presented on the accrual basis of accounting. The information in the 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the financial statements, issued under separate cover by other auditors.
CoC has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
During the year ended June 30, 2025, CoC had $0 passed through to sub-recipients.
CoC did not receive any noncash assistance, federal loans, or federally funded insurance during the year ended June 30, 2025.
CoC's reporting entity is defined in Note A of CoC's financial statements. The accounting policies and presentation of the Single Audit Report have been designed to conform to accounting principles generally accepted in the United States of America.