Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The accounting policies conform to accounting principles generally accepted in the United States of America as applicable to not-for-profit organizations. The information in the Schedule is presented based on regulations established by the Office of Policy Management. The expenditures reported on the Schedule are presented on the accrual basis of accounting. For cost-reimbursed awards, expeditures have been recognized to the extent of allowable costs incurred. For performance-based awards, expenditures reported represent amounts earned.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of federal awards (the Schedule) includes the federal award activity of The Children's Community Programs of CT, Inc. 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 The Children's Community Programs of CT, Inc., it is not intended to, and does not, present the financial position, changes in net assets or cash flows of The Children's Community Programs of CT, Inc.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accounting policies conform to accounting principles generally accepted in the United States of America as applicable to not-for-profit organizations. The information in the Schedule is presented based on regulations established by the Office of Policy Management. The expenditures reported on the Schedule are presented on the accrual basis of accounting. For cost-reimbursed awards, expeditures have been recognized to the extent of allowable costs incurred. For performance-based awards, expenditures reported represent amounts earned.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accounting policies of The Children's Community Programs of CT, Inc. conform to accounting principles generally accepted in the United States of America as applicable to not-for-profit organizations. The information in the Schedule is presented based on regulations established by the Office of Policy Management.The expenditures reported on the Schedule are presented on the accrual basis of accounting. For cost- reimbursement awards, expenditures have been recognized to the extent of allowable costs incurred. For performance-based awards, expenditures reported represent amounts earned.