Title: Note 1 – Basis of Presentation
Accounting Policies: Expenditures reported in the schedule of expenditures of federal awards 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Boys and Girls Club of Marin County , Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of the Boys and Girls Clubs of Martin County, Inc. (the "Club") 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 Club, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Club.
Title: Note 2 – Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported in the schedule of expenditures of federal awards 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Boys and Girls Club of Marin County , Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported in the schedule of expenditures of federal awards 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 allowable or are limited as to reimbursement.
Title: Note 3 – De Minimis Indirect Cost Rate
Accounting Policies: Expenditures reported in the schedule of expenditures of federal awards 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Boys and Girls Club of Marin County , Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Boys and Girls Club of Marin County , Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 4 – Sub-Recipient Monitoring
Accounting Policies: Expenditures reported in the schedule of expenditures of federal awards 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Boys and Girls Club of Marin County , Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Boys and Girls Clubs of Martin County, Inc. has provided no federal awards to subrecipients.
Title: Note 5 – AmeriCorps Matching Requirement
Accounting Policies: Expenditures reported in the schedule of expenditures of federal awards 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Boys and Girls Club of Marin County , Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
All matching requirements for the AmeriCorps contracts in effect from July 1, 2022 through June 30, 2023 have been met by the Club
Title: Note 6 – Contingency
Accounting Policies: Expenditures reported in the schedule of expenditures of federal awards 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Boys and Girls Club of Marin County , Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Amounts received, or receivable, from granter agencies are subject to audit and adjustment by granter agencies. If any expenditures are disallowed as a result of these audits, the claims for reimbursement to the granter agency would become a liability of the Boys and Girls Clubs of Martin County, Inc. In the opinion of Management, any such adjustment would not be significant