Notes to SEFA
Accounting Policies: BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards and State FinancialAssistance (the Schedule) includes the federal and state grant activity of MarthaOBryan Center, Inc. and Affiliate (collectively the Center). The information in theSchedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles,and Audit Requirements for Federal Awards (Uniform Guidance) and the State ofTennessee. Because the Schedule presents only a selected portion of the operations ofthe Center, it is not intended to and does not present the financial position, changes innet assets, or cash flows of the Center.B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESFor purposes of the Schedule, expenditures of federal and state grant awards arerecognized on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance, wherein certain typesof expenditures are not allowable or are limited as to reimbursement.The Center did not expend any Federal or State awards during fiscal year 2022 in theform of non-cash assistance.The Center elected to not use the 10% deminimus indirect cost rate. The Center did notprovide any funds to subrecipients.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.