Title: BASIS PRESENTATION
Accounting Policies: Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A_x0002_87, Cost Principles for State, Local and Indian Tribal Governments, where in certain types of expenditures are not allowable or limited as to reimbursements. The amounts in the Schedule agree with the amounts reported in the accompanying financial statements.
De Minimis Rate Used: N
Rate Explanation: In the mayor program, no indirect costs were charged. In other cases the costs are already distributed within the proposal budget.
The accompanying Schedule of Expenditures of Federal Awards ( the Schedule ) includes the federal grant activity of the Organization 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 (CFR) 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 Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of Organization. The capital outlays with federal funds are reported as expenditures in the section of Federal Awards in a schedule of expenditures. However, in the statement of activities, these outlays are capitalized, stated at cost at the date of the acquisition, and are depreciated over the useful lives.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A_x0002_87, Cost Principles for State, Local and Indian Tribal Governments, where in certain types of expenditures are not allowable or limited as to reimbursements. The amounts in the Schedule agree with the amounts reported in the accompanying financial statements.
De Minimis Rate Used: N
Rate Explanation: In the mayor program, no indirect costs were charged. In other cases the costs are already distributed within the proposal budget.
Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A_x0002_87, Cost Principles for State, Local and Indian Tribal Governments, where in certain types of expenditures are not allowable or limited as to reimbursements. The amounts in the Schedule agree with the amounts reported in the accompanying financial statements.
Title: RELATION TO FEDERAL FINANCIAL REPORTS
Accounting Policies: Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A_x0002_87, Cost Principles for State, Local and Indian Tribal Governments, where in certain types of expenditures are not allowable or limited as to reimbursements. The amounts in the Schedule agree with the amounts reported in the accompanying financial statements.
De Minimis Rate Used: N
Rate Explanation: In the mayor program, no indirect costs were charged. In other cases the costs are already distributed within the proposal budget.
The regulations and guidelines governing the preparation of federal financial reports vary by federal agency and among programs administered by the same agency. Accordingly, the amounts reported in the federal financial reports do not necessarily agree with the amounts reported in the accompanying schedule, which is prepared on the basis of accounting explained in Note 1. Set forth in 200.327 Financial reporting and 200.328 Monitoring and reporting program performance, if a Federal awarding agency requires reporting on an accrual basis from a recipient that maintains its records on other than an accrual basis, the recipient must not be required to establish an accrual accounting system. This recipient may develop accrual data for its reports on the basis of an analysis of the documentation on hand. The Organization's prepares the federal financial reports on accrual basis of accounting primarily based on information from the internal accounting records of the Organization.
Title: RELATION TO FINANCIAL STATEMENTS
Accounting Policies: Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A_x0002_87, Cost Principles for State, Local and Indian Tribal Governments, where in certain types of expenditures are not allowable or limited as to reimbursements. The amounts in the Schedule agree with the amounts reported in the accompanying financial statements.
De Minimis Rate Used: N
Rate Explanation: In the mayor program, no indirect costs were charged. In other cases the costs are already distributed within the proposal budget.
Federal awards revenues and expenses are reported in the Organization's Statement Activities and Changes in Net Position, in accordance with standards issued by the Government Accounting Standards Board (GASB) No. 35. Because the Schedule of Expenditures of Federal Awards presents only federal activities of the Organization, it is not intended to and does not present the financial position, assets, liabilities, net position, revenues, expenses, changes in net position, and cash flows, as a whole.
Title: DISTINCTION BETWEEN TYPE A AND TYPE B PROGRAMS
Accounting Policies: Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A_x0002_87, Cost Principles for State, Local and Indian Tribal Governments, where in certain types of expenditures are not allowable or limited as to reimbursements. The amounts in the Schedule agree with the amounts reported in the accompanying financial statements.
De Minimis Rate Used: N
Rate Explanation: In the mayor program, no indirect costs were charged. In other cases the costs are already distributed within the proposal budget.
The dollar threshold for Type A and Type B programs amounted to $750,000.
Title: INDIRECT COST
Accounting Policies: Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A_x0002_87, Cost Principles for State, Local and Indian Tribal Governments, where in certain types of expenditures are not allowable or limited as to reimbursements. The amounts in the Schedule agree with the amounts reported in the accompanying financial statements.
De Minimis Rate Used: N
Rate Explanation: In the mayor program, no indirect costs were charged. In other cases the costs are already distributed within the proposal budget.
The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: PASS-TROUGH
Accounting Policies: Expenditures included in the Schedule are reported on the accrual basis of accounting, which is further explained in Note 1 to the accompanying financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A_x0002_87, Cost Principles for State, Local and Indian Tribal Governments, where in certain types of expenditures are not allowable or limited as to reimbursements. The amounts in the Schedule agree with the amounts reported in the accompanying financial statements.
De Minimis Rate Used: N
Rate Explanation: In the mayor program, no indirect costs were charged. In other cases the costs are already distributed within the proposal budget.
No federal grant dollar has been passed through to sub-recipient.