Notes to SEFA
Accounting Policies: Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (the ?Schedule?) includes the federalgrant activity of Indian Rock Supportive Housing, Inc. and is presented on the accrual basis ofaccounting. The information in the Schedule is presented in accordance with the requirements of Title2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards. Therefore, some amounts presented in theSchedule may differ from amounts presented in, or used in the preparation of the basic financialstatements.Summary of significant policiesExpenditures reported in the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the OMB CircularA-122, Cost Principles for Non-Profit Organizations and the Uniform Guidance, wherein certain typesof expenditures are not allowed. Catalogue of Federal Domestic Assistance numbers (?CFDA No.?) areprovided when available.The Organization has not elected to use the 10-percent de minimis indirect cost rate as allowed underthe Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.