Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of Methodist Childrens Home (MCH) for the year ended June 30, 2022. The reporting entity is defined in the Notes to MCHs basic financial statements. Federal financial assistance received directly from federal agencies and other agencies are included in the Schedule of Expenditures of Federal Awards. The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The accrual basis of accounting is described in Note 2 of the financial statements. None of the federal programs expended by MCH were provided to subrecipients.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.