Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of Rainbow Days, Inc. (Organization) and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the audit 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 only presents a selected portion of the operations of the Organization, it is not intended and does not present the financial position, changes in net assets, or cash flows of the Organization.
The Organization received government grant revenue totaling $601,783 that was not subject to the audit requirements of the Uniform Guidance and therefore was not included in the Schedule.