Notes to SEFA
Accounting Policies: 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying schedule of expenditures of federal awards presents the activity of all federal awards programs of Parsons Child and Family Center (the Center) for the year ended June 30,2022. Federal awards received directly from federal agencies, as well as federal awards passedthrough other government agencies, are included in the schedule.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 schedulepresents only a selected portion of the operations of the Center, it is not intended to and does notpresent the financial position, changes in net assets, or cash flows of the Center.The schedule is presented using the accrual basis of accounting used by the Center to reportto the federal government. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are not allowable orare limited as to reimbursement. 2. PROVIDER RELIEF FUNDS (PRF) The amount included in the schedule of expenditures of federal awards is based upon the December 31, 2021 PRF report. 3. INDIRECT COST RATESThe Center has elected not to use the 10% de minimis cost rate as allowed by the UniformGuidance. The Center has negotiated an indirect cost rate of 8.6% for their major program.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.