Title: Note 1 – Basis of Presentation
Accounting Policies: The accompanying Schedule is prepared 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: Cost reimbursement
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Comtrea 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 Comtrea, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Comtrea.
Title: Note 2 – Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule is prepared 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: Cost reimbursement
The accompanying Schedule is prepared 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 – Indirect Cost Rate
Accounting Policies: The accompanying Schedule is prepared 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: Cost reimbursement
Comtrea has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 4 – Insurance
Accounting Policies: The accompanying Schedule is prepared 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: Cost reimbursement
Comtrea did not have any federal insurance in effect during the year ended June 30, 2023.
Title: Note 5 – Loans/Loan Guarantees
Accounting Policies: The accompanying Schedule is prepared 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: Cost reimbursement
Comtrea did not have any loans or loan guarantees outstanding as of June 30, 2023.
Title: Note 6 – Subrecipients
Accounting Policies: The accompanying Schedule is prepared 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: Cost reimbursement
Comtrea did not provide federal awards to any subrecipients during the fiscal year ended June 30, 2023.
Title: Note 7 – Donated Personal Protective Equipment (Unaudited)
Accounting Policies: The accompanying Schedule is prepared 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: Cost reimbursement
During the year ended June 30, 2023, Comtrea did not receive donations of personal protective equipment.