Notes to SEFA
Accounting Policies: 1. Basis of Presentation:The accompanying schedule of expenditures of federal awards (the Schedule) includesthe federal grant activity of Prevent Child Abuse, Virginia d/b/a Families Forward Virginia(the Organization) under programs of the federal government for the year ended June30, 2022. The information in this schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations (CFS) Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (the Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of the Organization, it is not intended to and does not presentthe financial position, results of operations, or cash flows of the Organization.2. Summary of Significant Accounting Policies:Expenditures reported on the Schedule are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.