Title: Note 1 - Basis of Presentation
Accounting Policies: Expenditures reported on the SEFA have been prepared using 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, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: SEARCH Homeless Services uses a Cost Allocation Plan (CAP) in lieu of the de minimis cost rate to identify and equitably distribute costs to programs and activities. Allocation methods are defined in the organization's CAP, which is updated and certified annually by the President and CEO of the organization. Cost recovery variances for the CAP and de minimis rate has been nominal.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of SEARCH Homeless Services (SEARCH) for the year ended June 30, 2023. 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 SEARCH, it is not intended to and does not present the financial position, changes in net assets, or cash flows of SEARCH.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the SEFA have been prepared using 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, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: SEARCH Homeless Services uses a Cost Allocation Plan (CAP) in lieu of the de minimis cost rate to identify and equitably distribute costs to programs and activities. Allocation methods are defined in the organization's CAP, which is updated and certified annually by the President and CEO of the organization. Cost recovery variances for the CAP and de minimis rate has been nominal.
Expenditures reported on the Schedule have been prepared using 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, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note 3 - Pass-through Grants
Accounting Policies: Expenditures reported on the SEFA have been prepared using 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, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: SEARCH Homeless Services uses a Cost Allocation Plan (CAP) in lieu of the de minimis cost rate to identify and equitably distribute costs to programs and activities. Allocation methods are defined in the organization's CAP, which is updated and certified annually by the President and CEO of the organization. Cost recovery variances for the CAP and de minimis rate has been nominal.
See the Notes to the SEFA for chart/table.
Title: Note 4 - Indirect Cost Rate
Accounting Policies: Expenditures reported on the SEFA have been prepared using 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, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: SEARCH Homeless Services uses a Cost Allocation Plan (CAP) in lieu of the de minimis cost rate to identify and equitably distribute costs to programs and activities. Allocation methods are defined in the organization's CAP, which is updated and certified annually by the President and CEO of the organization. Cost recovery variances for the CAP and de minimis rate has been nominal.
SEARCH has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.