Notes to SEFA
Accounting Policies: 1.The accompanying schedules of expenditures of federal awards (Schedule) includes the federal award activity of The Chosen Ones Outreach Ministries of Galveston, Inc. (Organization) under programs of the federal government for the years ended December 31, 2022.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 Schedules presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net position or cash flows of the Organization.2.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. The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.3.The Organization has reviewed its records to determine if there should be any disclosure of events that have occurred as of the date of release of the Schedule. Based on the Organizations review for subsequent events, the Organization has determined that there are no items which need to be recorded in the Schedules as of December 31, 2022. These Schedules were made available as of August 18, 2023.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.