Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance andChapter 10.650, Rules of the Auditor General, wherein certain types of expenditures are notallowable or are limited as to reimbursement, as applicable.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10-percent de minimis indirect cost rate allowed under theUniform Guidance.
The accompanying schedule of expenditures of federal awards and state financial assistance (theSchedule) includes the federal award and state financial assistance activity of Women in Distressof Broward County, Inc. (the Organization) for the year ended June 30, 2022. The information inthis Schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirementsfor Federal Awards (Uniform Guidance) and Chapter 10.650, Rules of the Auditor General. Therefore,some amounts presented in the Schedule may differ from amounts presented in or used in thepreparation of the financial statements. Because the Schedule presents only a selected portion ofthe operations, it is not intended to and does not present the financial position, changes in net assets,or cash flows of the Organization.
Title: CONTINGENCY
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance andChapter 10.650, Rules of the Auditor General, wherein certain types of expenditures are notallowable or are limited as to reimbursement, as applicable.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10-percent de minimis indirect cost rate allowed under theUniform Guidance.
The grants and contracts revenue received are subject to audit and adjustment. If any expendituresor expenses are disallowed by the grantor/contracting agencies as a result of such an audit, any claimfor reimbursement to the grantor agencies would become a liability of the Organization. In theopinion of management, all grant expenditures are in compliance with the terms of the grantagreements and applicable federal, state and local laws and regulations.