Accounting Policies: Expenditures are reported on the Schedule on the accural basis of accounting. Such expenditures are recognized following the cost principles obtained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent deminimus indirect cost rate.
Required monthly transfers to the replacement reserve fund as required by the Regulatory Agreement with USDA were not made during the year due to lack of funds available in the operating account. Deliquent transfers for the year ended August 31, 2022 were $4,997, and $27,166 for the year ended August 31, 2023 (total $32,163).
Required monthly transfers to the replacement reserve fund as required by the Regulatory Agreement with USDA were not made during the year due to lack of funds available in the operating account. Deliquent transfers for the year ended August 31, 2022 were $4,997, and $27,166 for the year ended August 31, 2023 (total $32,163).