Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the SEFA 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: The auditee uses a provisional indirect cost rate approved by the federal agency.
The schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Police Foundation d/b/a National Policing Institute (the Institute) under programs of the federal government for the year ended June 30, 2023.
The information in the 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 the Institute, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Institute.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the SEFA 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: The auditee uses a provisional indirect cost rate approved by the federal agency.
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.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the SEFA 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: The auditee uses a provisional indirect cost rate approved by the federal agency.
The Institute has entered into agreements with subrecipients for certain grants. Under the terms of the agreements, payment is made to the subrecipients based on the completion of certain activities or submission for reimbursement of allowable direct and indirect expenditures. Liabilities have only been accrued for services provided through June 30, 2023.
Title: INDIRECT COSTS
Accounting Policies: Expenditures reported on the SEFA 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: The auditee uses a provisional indirect cost rate approved by the federal agency.
The Institute uses a provisional indirect cost rate approved by the federal agency. Therefore, the Institute elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.