Notes to SEFA
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal award activity of Young People in Recovery, under programs of the federal government for the year ended December 31, 2022. The information in this 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). Because the schedule presents only a selected portion of the operations of Young People in Recovery it is not intended to and does not present the financial position or changes in net assets or cash flows of Young People in Recovery.
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 modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. See Note 1 of the financial statements for summary of significant policies. The Organization has not elected to use the ten percent de-minims indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE 3 COMBINATION OF CFDA FUNDS INTO ONE GRANT
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal award activity of Young People in Recovery, under programs of the federal government for the year ended December 31, 2022. The information in this 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). Because the schedule presents only a selected portion of the operations of Young People in Recovery it is not intended to and does not present the financial position or changes in net assets or cash flows of Young People in Recovery.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Commonwealth of Kentucky awarded pass through funds to Young People in Recovery with funding through CFDA 93.788 and 93.959. The amounts presented on the SEFA were calculated by reconciling the unspent portion of the original award under CFDA 93.788 from the prior years reported expenditures. Young People in Recovery spent the remaining portion of the original CFDA 93.788 first during the current fiscal year, and then utilized the unspent funds from the modified award under CFDA 93.959.