Title: Note 3 Contingencies
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Alabama Humanities Alliance and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.For the purposes of the schedule, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass through entities. Payments received for goods or services provided as a vendor do not constitute federal awards from purposes of the schedule. The Corporation has obtained Assistance Listing numbers to ensure that all programs have been identified in the schedule. The amounts reflected in the financial reports submitted to the awarding federal and/or pass-through agencies and the schedule may differ. Some of the factors that may account for any difference include the following:?The Corporations year end may differ from the programs year end.?Accruals recognized in the schedule, because of year end procedures, may not be reported in the program financial reports until the next program reporting period.?Fixed asset purchases and the resultant depreciation charges are recognized as property and equipment, net in the Corporations financial statements and as expenditures in the program financial reports. This schedule was prepared on the accrual basis of accounting. Expenditures are recognized in the period in which they are incurred.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.The Organization uses an indirect cost rate to be reimbursed for certain federal expenditures as a means for determining the proportion of indirect costs each program should bear.
Grant monies received and disbursed by the Organization are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, the Organization does not believe that such disallowance, if any, would have a material effect on the financial position of the Organization. As of December 31, 2022, there were no questioned costs reported in the Schedule of Findings and Questioned Costs for Assistance Listing No. 45.129, Promotion of the Humanities Federal/State Partnership.
Title: Note 4 Noncash Assistance
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Alabama Humanities Alliance and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.For the purposes of the schedule, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass through entities. Payments received for goods or services provided as a vendor do not constitute federal awards from purposes of the schedule. The Corporation has obtained Assistance Listing numbers to ensure that all programs have been identified in the schedule. The amounts reflected in the financial reports submitted to the awarding federal and/or pass-through agencies and the schedule may differ. Some of the factors that may account for any difference include the following:?The Corporations year end may differ from the programs year end.?Accruals recognized in the schedule, because of year end procedures, may not be reported in the program financial reports until the next program reporting period.?Fixed asset purchases and the resultant depreciation charges are recognized as property and equipment, net in the Corporations financial statements and as expenditures in the program financial reports. This schedule was prepared on the accrual basis of accounting. Expenditures are recognized in the period in which they are incurred.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.The Organization uses an indirect cost rate to be reimbursed for certain federal expenditures as a means for determining the proportion of indirect costs each program should bear.
The Organization did not receive any federal noncash assistance for the fiscal year ending December 31, 2022.
Title: Note 5 Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Alabama Humanities Alliance and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.For the purposes of the schedule, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass through entities. Payments received for goods or services provided as a vendor do not constitute federal awards from purposes of the schedule. The Corporation has obtained Assistance Listing numbers to ensure that all programs have been identified in the schedule. The amounts reflected in the financial reports submitted to the awarding federal and/or pass-through agencies and the schedule may differ. Some of the factors that may account for any difference include the following:?The Corporations year end may differ from the programs year end.?Accruals recognized in the schedule, because of year end procedures, may not be reported in the program financial reports until the next program reporting period.?Fixed asset purchases and the resultant depreciation charges are recognized as property and equipment, net in the Corporations financial statements and as expenditures in the program financial reports. This schedule was prepared on the accrual basis of accounting. Expenditures are recognized in the period in which they are incurred.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.The Organization uses an indirect cost rate to be reimbursed for certain federal expenditures as a means for determining the proportion of indirect costs each program should bear.
The Organization provided $249,997 federal funds to sub-recipients for the fiscal years ended December 31, 2022.
Title: Note 6 Loan Agreements
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Alabama Humanities Alliance and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.For the purposes of the schedule, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass through entities. Payments received for goods or services provided as a vendor do not constitute federal awards from purposes of the schedule. The Corporation has obtained Assistance Listing numbers to ensure that all programs have been identified in the schedule. The amounts reflected in the financial reports submitted to the awarding federal and/or pass-through agencies and the schedule may differ. Some of the factors that may account for any difference include the following:?The Corporations year end may differ from the programs year end.?Accruals recognized in the schedule, because of year end procedures, may not be reported in the program financial reports until the next program reporting period.?Fixed asset purchases and the resultant depreciation charges are recognized as property and equipment, net in the Corporations financial statements and as expenditures in the program financial reports. This schedule was prepared on the accrual basis of accounting. Expenditures are recognized in the period in which they are incurred.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.The Organization uses an indirect cost rate to be reimbursed for certain federal expenditures as a means for determining the proportion of indirect costs each program should bear.
The Organization did not have any loans or loan guarantee programs required to be reported on the schedule.