Title: Note 1 - Basis of Presentation
Accounting Policies: Note 1 - Basis of Presentation - The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of the Organization under programs of the federal government for the year ended August 31, 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements. Note 2 - Accounting Principles Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Note 3 - Indirect Cost Rate The Organization has elected not use the 10% de minimis indirect cost rate as allowed under Title 2 U.S. Code of Federal Regulations Part 200, Subpart E, Cost Principles.
De Minimis Rate Used: N
Rate Explanation: Auditee used a NICRA of 22.3% or that allowed in its grant agreement as the rates were higher than the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of the Organization under programs of the federal government for the year ended August 31, 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
Title: Note 2 - Accounting Principles
Accounting Policies: Note 1 - Basis of Presentation - The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of the Organization under programs of the federal government for the year ended August 31, 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements. Note 2 - Accounting Principles Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Note 3 - Indirect Cost Rate The Organization has elected not use the 10% de minimis indirect cost rate as allowed under Title 2 U.S. Code of Federal Regulations Part 200, Subpart E, Cost Principles.
De Minimis Rate Used: N
Rate Explanation: Auditee used a NICRA of 22.3% or that allowed in its grant agreement as the rates were higher than the de minimis cost rate.
Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
Title: Note 3 - Indirect Cost Rate
Accounting Policies: Note 1 - Basis of Presentation - The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of the Organization under programs of the federal government for the year ended August 31, 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements. Note 2 - Accounting Principles Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Note 3 - Indirect Cost Rate The Organization has elected not use the 10% de minimis indirect cost rate as allowed under Title 2 U.S. Code of Federal Regulations Part 200, Subpart E, Cost Principles.
De Minimis Rate Used: N
Rate Explanation: Auditee used a NICRA of 22.3% or that allowed in its grant agreement as the rates were higher than the de minimis cost rate.
The Organization has elected not use the 10% de minimis indirect cost rate as allowed under Title 2 U.S. Code of Federal Regulations Part 200, Subpart E, Cost Principles.