Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in accordance with generally accepted accounting principles. Such expenditures are recognized following 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: Brighton Center, Inc. has not elected to use the 10% de minimis cost rate. Brighton Center, Inc. has an approved 15% indirect cost rate (see Note 11 to the Financial Statements).
The accompanying schedule of expenditures of federal awards includes the federal award activity of Brighton Center, Inc. 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in accordance with generally accepted accounting principles. Such expenditures are recognized following 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: Brighton Center, Inc. has not elected to use the 10% de minimis cost rate. Brighton Center, Inc. has an approved 15% indirect cost rate (see Note 11 to the Financial Statements).
Expenditures reported on the schedule are reported on the accrual basis of accounting in accordance with generally accepted accounting principles. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: DE MINIMIS COST RATE
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in accordance with generally accepted accounting principles. Such expenditures are recognized following 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: Brighton Center, Inc. has not elected to use the 10% de minimis cost rate. Brighton Center, Inc. has an approved 15% indirect cost rate (see Note 11 to the Financial Statements).
Brighton Center, Inc. has not elected to use the 10% de minimis cost rate. Brighton Center, Inc. has an approved 15% indirect cost rate (see Note 11 to the Financial Statements