Notes to SEFA
Title: General
Accounting Policies: The accompanying schedule of expenditures of federal awards of Yolo Wayfarer Center d/b/a Fourth & Hope is presented on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: Yolo Wayfarer Center d/b/a Fourth & Hope has elected to use the 10% de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance provided to Yolo Wayfarer Center d/b/a Fourth & Hope under programs of the Federal Government. 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 Yolo Wayfarer Center d/b/a Fourth & Hope, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Yolo Wayfarer Center d/b/a Fourth & Hope.
Title: Claims
Accounting Policies: The accompanying schedule of expenditures of federal awards of Yolo Wayfarer Center d/b/a Fourth & Hope is presented on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: Yolo Wayfarer Center d/b/a Fourth & Hope has elected to use the 10% de minimis indirect cost rate.
Yolo Wayfarer Center d/b/a Fourth & Hope has received federal and state grants for specific purposes that are subject to review and audit by the Federal Government and the State of California. Although such audits could result in expenditure disallowance under grant terms, any required reimbursements are not expected to be material which have not already been recorded.