Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe schedule of expenditures of federal awards is prepared 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 Club did not pass-through any federal funds to a subrecipient in 2022.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the West Springfield Boys and Girls Club, Inc. for the year ended December 31, 2022, and is presented on the accrual basis of accounting. 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 schedulepresents only a selected portion of the operations of West Springfield Boys and Girls Club, Inc., it is not intended to and does not present the financial position, change in net assets, or cash flows of West Springfield Boys and Girls Club, Inc.