Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of CHEER, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Management has not elected to use the 10% de minimis indirect cost rate., as management does not currently have any federal awards where an indirect cost rate is charged.