Notes to SEFA
Accounting Policies: NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESBasis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all Federal Award Programs of the Unlimited Visions Aftercare, Inc. (a nonprofit organization.). The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts may differ from amounts presented in, or used in the preparation of the basic financial statements.Relationship to Federal Financial Reports Basis of AccountingAmounts reported in the accompanying schedule may not agree with the amounts reported in the related federal financial reports filed with the grantor agencies because of accruals made in the schedule, which will be included in future reports filed with the agencies.NOTE 2: INDIRECT COST RATE The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.