Notes to SEFA
Title: RELATIONSHIP TO FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of World Help under programs of the federal government for the year ending March 31, 2022. The information in the schedule is presented in accordance with the requirements of the 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 the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures in 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. If World Help is required to match certain federal assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
See table in SEFA Note 3.
Title: SUBRECIPIENTS, NON-CASH ASSISTANCE, FEDERAL INSURANCE, LOANS, AND LOAN GUAR
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of World Help under programs of the federal government for the year ending March 31, 2022. The information in the schedule is presented in accordance with the requirements of the 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 the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures in 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. If World Help is required to match certain federal assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
World Help did not provide any federal funds to subrecipients nor did they receive any federal insurance or loan guarantees. The only federal non-cash assistance that World Help received was from the limited excess property program. World Help has received Small Business Administration (SBA) Paycheck Protection Program (PPP) loans totaling approximately $703,000 and $749,000 (See Note 2 to the financial statements). The SBA has indicated that PPP loans are not subject to Uniform Guidance audit requirements and therefore, the PPP loans are not included in the schedule. World Help also received an SBA economic injury disaster loan (EIDL) in fiscal year 2021 (See Note 8 to the financial statements). The SBA has indicated that an EIDL does not have continuing compliance requirements other than repayment and therefore, is excluded from the schedule as it is not subject to Uniform Guidance audit requirements after the initial year of the loan.