Notes to SEFA
Title: Note 1 - 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. The Organizations summary of significant accounting policies is presented in Note A to the Basic Financial Statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the Barry County United Way (the Organization) under programs of the federal government for the year ended March 31, 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 the Organization, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Organization.
Title: Note 4 - Reconciliation to Basic Financial Statements
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. The Organizations summary of significant accounting policies is presented in Note A to the Basic Financial Statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
See the reconciliation in Note 4 to the Schedule on page 19 of the .pdf.
Title: Note 3 - Indirect Cost Rate
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. The Organizations summary of significant accounting policies is presented in Note A to the Basic Financial Statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
For purposes of charging indirect costs to federal awards, the Organization has not elected to use the 10% de minimis cost rate as permitted by ?200.414 of the Uniform Guidance.