Notes to SEFA
Title: BASIS OF PRESENTATION
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards and list of programs (the “Schedule”) includes the federal, state and other local grant activity of Project NOW, Inc. under programs of the federal, state and local government for the year ended June 30, 2022. 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 schedule presents only a selected portion of the operations of Project NOW, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Project NOW, Inc.
Title: PROGRAM TESTED AS A MAJOR PROGRAM
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: N/A
U.S. Department of Health and Human - Low Income Home Energy Assistance Program, AL #93.568 - Head Start Cluster, AL #93.600
Title: OTHER
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: N/A
Project NOW, Inc. did not receive any noncash federal assistance nor was there any federal insurance in effect during the year. Project NOW, Inc. also did not have any federal loans or loan guarantees outstanding at June 30, 2022.