Notes to SEFA
BASIS OF PRESENTATION - The accompanying schedule of expenditures of Federal and state awards includes the Federal grant activity of Solano Family and Children’s Council, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
SUMMARY OF SIGNIFICANT 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
INDIRECT COST RATE - The Organization did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.