Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedules of expenditures of federal and state awards includes the federal and state grant activity of NEOCAA, and is presented on the accrual basis of accounting. The information in these schedules 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 schedules present only a selected portion of the operations of NEOCAA, they are not intended to and do not present the financial position, changes in net assets or cash flows.
De Minimis Rate Used: N
Rate Explanation: NEOCAA has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedules of expenditures of federal and state awards includes the federal and state grant activity of NEOCAA, and is presented on the accrual basis of accounting. The information in these schedules 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 schedules present only a selected portion of the operations of NEOCAA, they are not intended to and do not present the financial position, changes in net assets or cash flows.
Title: CONTINGENT LIABILITIES
Accounting Policies: The accompanying schedules of expenditures of federal and state awards includes the federal and state grant activity of NEOCAA, and is presented on the accrual basis of accounting. The information in these schedules 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 schedules present only a selected portion of the operations of NEOCAA, they are not intended to and do not present the financial position, changes in net assets or cash flows.
De Minimis Rate Used: N
Rate Explanation: NEOCAA has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
NEOCAA participates in a number of federally assisted programs. These programs are audited in accordance with Government Auditing Standards and the Single Audit Act Amendments of 1996, if applicable, in accordance with the required levels of Federal Financial Assistance. Audits of prior years have not resulted in any significant disallowed costs. Additionally, the grant programs are subject to audits by the granting authority, the purpose of which is to insure compliance with conditions precedent to the granting of the funds. Management believes that any liability for reimbursement which may arise as the result of audits of grant funds would not be material.
Title: RELATIONSHIP TO FINANCIAL REPORTS
Accounting Policies: The accompanying schedules of expenditures of federal and state awards includes the federal and state grant activity of NEOCAA, and is presented on the accrual basis of accounting. The information in these schedules 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 schedules present only a selected portion of the operations of NEOCAA, they are not intended to and do not present the financial position, changes in net assets or cash flows.
De Minimis Rate Used: N
Rate Explanation: NEOCAA has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Amounts reported in the accompanying schedule may not agree with the amounts reported in the related Federal financial reports filed with the grantor agencies because of accruals made in the schedule which will be included in future reports filed with agencies.
Title: INDIRECT COSTS
Accounting Policies: The accompanying schedules of expenditures of federal and state awards includes the federal and state grant activity of NEOCAA, and is presented on the accrual basis of accounting. The information in these schedules 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 schedules present only a selected portion of the operations of NEOCAA, they are not intended to and do not present the financial position, changes in net assets or cash flows.
De Minimis Rate Used: N
Rate Explanation: NEOCAA has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
NEOCAA has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.