Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of Options Recovery Services. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. The information in this SEFA 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).
The accompanying SEFA is presented using the accrual basis of accounting.
Federal award expenditures agree or can be reconciled with amounts reported in the Organization's financial statements.
The Organization elected not to use the 10% de minimis cost rate.