Notes to SEFA
Title: PROPERTY AND EQUIPMENT
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 wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CSTB elected to account for indirect costs utilizing the cost allocation method, using modified total direct costs as the base, for the fiscal year ending June 30, 2023.
Property and equipment of approximately $5,000 was purchased using federal grant awards during fiscal year ending June 30, 2023. These amounts are included in the Schedule but excluded from the statement of activities as the amount has been capitalized for financial statement purposes and recorded as property and equipment on the statement of position.
Title: BASIS OF PRESENTATION
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 wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CSTB elected to account for indirect costs utilizing the cost allocation method, using modified total direct costs as the base, for the fiscal year ending June 30, 2023.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of CSTB. 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 CSTB, it is not intended to and does not present the financial position, changes in net assets or cash flows of CSTB.