Notes to SEFA
Title: Basis of presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, either the cost principles in OMB Circular
A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: RCAP Solutions, Inc. and Subsidiaries have elected not to use the 10-percent de minimis indirect
cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards ("Schedule") includes the federal
award activity of RCAP Solutions, Inc. and Subsidiaries, under programs of the federal government
for the year ended June 30, 2023. 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 Schedule presents only a selected portion of the operations of RCAP Solutions, Inc.
and Subsidiaries, it is not intended to and does not present the financial position, changes in net
assets, or cash flows of RCAP Solutions, Inc. and Subsidiaries. For the year ended June 30, 2023,
no awards were passed through to subrecipients.