Notes to SEFA
Title: Basis of Accounting
Accounting Policies: Expenditures reported on the schedules are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedules of expenditures of federal and state awards includes the federal and state grant activities of OBHAW are are presented on the accrual basis of accounting. The information in the schedules is presented in accordance with the requirements of 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 Award (Uniform Guidance). Because the schedules present only a selected portion of the operations OBHAW, they are not intended to and do not present the financial position, changes in net assets or cash flows.