Notes to SEFA
Accounting Policies: The accompanying combined schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Community Renewal Team, Inc. and Affiliates, under programs of the federal government for the year ended December 31, 2022. The information in the 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 Community Renewal Team, Inc. and Affiliates, it is not intended to, and does not, present the financial position, changes in net assets or cash flows of the Community Renewal Team, Inc. and Affiliates. Expenditures reported on the Schedule are reported using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards with exception of Assistance Listing # 21.019, which follows criteria determined by the Department of Treasury for allowability of costs. Under these principles certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.