Notes to SEFA
Title: NOTE 2 - Summary of Significant Accounting Policies
Accounting Policies: NOTE 1 - Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of PlanRVA, under programs of the federal government for the year ended June 30, 2022. 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. Because the schedule presents only a selected portion of the operations of PlanRVA, it is not intended to and does not present the financial position, change in net position or cash flows of PlanRVA.
De Minimis Rate Used: N
Rate Explanation: NOTE 3 Indirect Cost RatePlanRVA has elected not to use the 10% de minimus indirect cost rate.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principals, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.