Notes to SEFA
Accounting Policies: (1) GENERAL INFORMATIONThe accompanying schedule of expenditures of federal awards presents the activities in all the federalawards programs of Childrens Village, Inc. All financial assistance received directly from federal agencies,as well as federal financial assistance passed through other governmental agencies or not-for-profitorganizations, is included on the schedule.(2) BASIS OF ACCOUNTINGThe schedule of expenditures of federal awards is presented using the accrual basis of accounting. Theamounts reported in this schedule as expenditures may differ from certain financial reports submitted tofunding sources on either a cash or modified accrual basis of accounting.(3) RELATIONSHIP TO BASIC FINANCIAL STATEMENTSFederal awards expenditures are reported on the statements of activities and functional expenses. Incertain programs, the expenditures reported in the basic financial statements may differ from theexpenditures reported in the schedule of expenditures of federal awards, because program expendituresexceeding grant or contract budget limitations are not reflected on the schedule of expenditures of federalawards.(4) INDIRECT COSTSChildrens Village, Inc. has not elected to use the 10-percent de minimus indirect cost rate allowed underthe Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.