Notes to SEFA
Title: Note 2- Summary of significant accounting policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of New York Council on Adoptable Children, Inc. (the organization) for the year ended June 30, 2022 and 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 the organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the organization. All financial assistance received directly from the federal agencies as well as financial assistance passed through other government agencies or nonprofit organizations is included on the schedule.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in the Uniform Guidance of the cost principles contained in OMB Circular A-122 Cost principles for Non-profit Organizations, wherein types of expenditures are not allowed or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
Title: Note 3- Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of New York Council on Adoptable Children, Inc. (the organization) for the year ended June 30, 2022 and 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 the organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the organization. All financial assistance received directly from the federal agencies as well as financial assistance passed through other government agencies or nonprofit organizations is included on the schedule.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no subrecipients of federal funds for the year ended June 30, 2022
Title: Note 4- Indirect cost rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of New York Council on Adoptable Children, Inc. (the organization) for the year ended June 30, 2022 and 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 the organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the organization. All financial assistance received directly from the federal agencies as well as financial assistance passed through other government agencies or nonprofit organizations is included on the schedule.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.