Notes to SEFA
Title: NOTE 4. SUBRECIPIENTS
Accounting Policies: NOTE 1. BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (Schedule) is presented on the accrual basis of accounting, which is the same basis of accounting used for financial reporting purposes. The 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). Expenditures are recognized following the cost principles contained in the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of Opportunities, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Opportunities, Inc. NOTE 2. PROGRAM DESCRIPTIONS Opportunities, Inc. is a not-for-profit corporation located in Great Falls, Montana. Opportunities, Inc. is part of a national network of community action agencies that were created by the federal government to combat poverty. Opportunities, Inc. partners with various agencies to provide basic needs services within a six county area.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Opportunities, Inc. had no subrecipients of its federal awards for the year ended March 31, 2022.