Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal and non-federal awards (the "Schedule") includes the federal and non-federal award activity of United States Veterans Initiative and Subsidiaries (the "Organization") under programs of the federal and other government agencies for the year ended June 30, 2022, as well as federal contracts and state and local awards. Theinformation 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 Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does notpresent the financial position, changes in net assets, or cash flows of the Organization.Expenditures reported on 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 limited as to reimbursement. Passthrough entity identifying numbers are presented where available and applicable.
De Minimis Rate Used: N
Rate Explanation: U.S. VETS has elected not to use the 10% de minimis indirect cost rate for federal awards. U.S. VETS applies indirect costs in accordance with the specific terms of its federal award agreements.