Title: Note A - Basis of Presentation
Accounting Policies: Expenditures 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 operations to amounts reported as expenditures in prior years. Safe Passage did not elect to include the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Safe Passage uses the following cost allocation procedure to allocate indirect costs to the various programs: Payroll costs are the basis for determining the percentage of the total indirect costs to be allocated to each program. Payroll costs include wages and salaries for time worked plus any paid benefit time such as sick days, vacation days, and holidays,. Also included are FICA, SUTA, workers’ compensation insurance, disability and life insurance premiums, and health insurance premiums paid by the agency. In order to calculate the appropriate amount of the total indirect costs that should be assigned to each program, the indirect payroll costs are divided into the direct payroll costs for each program. This calculation will yield the percent of the total indirect costs to be applied to each program. This percentage is used to allocate all indirect (M&G) costs.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of Safe Passage, Inc. and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
Title: Note B - Summary of Significant Accounting Policies
Accounting Policies: Expenditures 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 operations to amounts reported as expenditures in prior years. Safe Passage did not elect to include the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Safe Passage uses the following cost allocation procedure to allocate indirect costs to the various programs: Payroll costs are the basis for determining the percentage of the total indirect costs to be allocated to each program. Payroll costs include wages and salaries for time worked plus any paid benefit time such as sick days, vacation days, and holidays,. Also included are FICA, SUTA, workers’ compensation insurance, disability and life insurance premiums, and health insurance premiums paid by the agency. In order to calculate the appropriate amount of the total indirect costs that should be assigned to each program, the indirect payroll costs are divided into the direct payroll costs for each program. This calculation will yield the percent of the total indirect costs to be applied to each program. This percentage is used to allocate all indirect (M&G) costs.
Expenditures 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 operations to amounts reported as expenditures in prior years. Safe Passage did not elect to include the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note C - Other Matters
Accounting Policies: Expenditures 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 operations to amounts reported as expenditures in prior years. Safe Passage did not elect to include the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Safe Passage uses the following cost allocation procedure to allocate indirect costs to the various programs: Payroll costs are the basis for determining the percentage of the total indirect costs to be allocated to each program. Payroll costs include wages and salaries for time worked plus any paid benefit time such as sick days, vacation days, and holidays,. Also included are FICA, SUTA, workers’ compensation insurance, disability and life insurance premiums, and health insurance premiums paid by the agency. In order to calculate the appropriate amount of the total indirect costs that should be assigned to each program, the indirect payroll costs are divided into the direct payroll costs for each program. This calculation will yield the percent of the total indirect costs to be applied to each program. This percentage is used to allocate all indirect (M&G) costs.
Safe Passage, Inc. received no federal non-cash assistance during the year ended June 30, 2023. Additionally, the organization had no insurance, loans or loan guarantees related to federal funds. Safe Passage, Inc. had no sub-recipients during the year ended June 30, 2023.