Notes to SEFA
Title: BASIS OF REPRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform
Guidance and/or 0MB 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: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of New Life Foster Family Agency 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
New Life Foster Family Agency, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of New Life Foster Family Agency.