Notes to SEFA
Title: Awards to Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal expenditures of Cooperative Downtown Ministries, Inc. (the Organization) under programs of the federal government for the year ended December 31, 2022. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule 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 assets, or cash flows of Cooperative Downtown Ministries, Inc. For the purposes of the Schedule, federal award expenditures include all grants, contracts, and similar agreements entered into directly between the Organization and agencies and departments of the federal government and all subawards provided to the Organization by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. Expenditures reported in 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.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The Organization did not provide any federal awards to subrecipients from the federal expenditures reported in the Schedule.