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MAY-28-2003 1104 CHS REG l ON THREE P . 16/21 <br /> THE CHILDREN 'S HOME SOCIETY OF FLORIDA <br /> NOTES TO SCHEDULE <br /> YEAR ENDED JUNE 30, 2002 <br /> 1 . BASIS OF ACCOUNTING <br /> The Schedule of Expenditures of Federal Awards and State Financial Assistance is prepared on the <br /> accrual basis of accounting. <br /> The dollar threshold used to distinguish between Type A and Type B programs was $974 ,990 for <br /> federal awards and $300,000 for state financial assistance . <br /> 2. PASS-THROUGH AWARDS <br /> The Children's Home Society of Florida ("CHS") receives certain federal financial assistance from <br /> pass-through awards of various entities. The amounts of such pass-through awards are included on the <br /> Schedule of Expenditures of Federal Awards and State Financial Assistance. <br /> 3. SERVICE PROVIDED CONTRACTS <br /> Contracts that have an asterisk ( t) next to the expenditure column on the Schedule of Expenditures of <br /> Federal Awards and State Financial Assistance are reimbursed on a service provided basis. This means <br /> CHS is reimbursed a fixed dollar amount per unit of service provided in accordance with the contract <br /> terms, rather than on the basis of the actual cost of providing the service. <br /> Under the terms of these contracts, CHS is not required to report expenditures on a contract basis. <br /> Accordingly, CHS does not maintain accounting records that enable it to report expenditures on a <br /> contract basis in the Schedule of Expenditures of Federal Awards and State Financial Assistance. <br /> Therefore, only revenues earned in accordance with the contract terms are reported as expenditures on <br /> the Schedule of Expenditures of Federal Awards and State Financial Assistance. <br /> i <br /> - 12 - <br />