Notes to SEFA
Title: 4. RECONCILIATION OF EXPENDITURES
Accounting Policies: 1. BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of Commercial Vehicle Safety Alliance (CVSA), under programs of the federal
government for the year ended September 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 CVSA, it is
not intended to and does not present the financial position, changes in net assets, or cash flows
of CVSA.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, Cost
Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or
are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: 3. INDIRECT COST RATES
CVSA has not elected to use the 10 percent de minimis indirect cost as allowed under the Uniform Guidance. Instead, CVSA’s indirect costs are calculated and applied in accordance with grant and
contract requirements. The approved provisional rates for the year ended September 30, 2023,
include 58.10% applied to direct labor for fringe benefits, 14.44% applied to direct labor and
fringe for overhead, 23.60% applied to direct costs, fringe, and overhead for administrative.
The financial statements of Commercial Vehicle Safety Alliance are presented in accordance with U.S. generally accepted accounting principles. Expenditures per the schedule of expenditures of federal awards are reported on the statement of activities and changes in net assets in the audited financial statements as follows:See the notes to the SEFA for CHART/TABLE.