Notes to SEFA
Accounting Policies: Note 1: Basis of AccountingExpenditures reported on the schedule are reported of the statutory 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.Note 2: Program CostsThe accompanying schedule of expenditures of federal awards includes the federal grant activity of Geo-Son Child Care Services, Inc., and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the required of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative 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 general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.