Title: BASIS OF PRESENTATION
Accounting Policies: This Schedule was prepared on the modified accrual basis of accounting. The modified accrual basis differs from the full accrual basis of accounting in that expenditures for property and equipment are expensed when incurred, rather than being capitalized and depreciated over their useful lives, and expenditures for the principal portion of debt service are expensed when incurred, rather than being applied to reduce the outstanding principal portion of debt, which conforms to the basis of reporting to grantors for reimbursement under the terms of the Organization’s federal grants.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimus cost rate.
The amounts reported in the accompanying schedule of expenditures of federal awards (the “Schedule”) was obtained from the Organization’s general ledger. Because the Schedule presents only a selected portion of the operations, it is not intended and does not present the financial position and changes in net assets of the Organization.
For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass-through entities. Payments received for goods or services provided as a vendor do not constitute federal awards for purposes of the Schedule. The Organization has obtained Catalog of Federal Domestic Assistance (CFDA) numbers to ensure that all programs have been properly identified in the Schedule. CFDA numbers have been appropriately listed by applicable programs. Federal programs with different CFDA numbers that are closely related because they share common compliance requirements are defined as a cluster by the Uniform Guidance.
Title: RELATIONSHIP OF THE SCHEDULE TO PROGRAM FINANCIAL REPORTS
Accounting Policies: This Schedule was prepared on the modified accrual basis of accounting. The modified accrual basis differs from the full accrual basis of accounting in that expenditures for property and equipment are expensed when incurred, rather than being capitalized and depreciated over their useful lives, and expenditures for the principal portion of debt service are expensed when incurred, rather than being applied to reduce the outstanding principal portion of debt, which conforms to the basis of reporting to grantors for reimbursement under the terms of the Organization’s federal grants.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimus cost rate.
The amounts reflected in the financial reports submitted to the awarding Federal and/or pass-through agencies and the Schedule may differ. Some of the factors that may account for any difference include the following:
- The Organization’s fiscal year end may differ from the program’s year end.
- Accruals recognized in the Schedule, because of year-end procedures, may not be reported in the program financial reports until the next program reporting period.
- Fixed asset purchases and the resultant depreciation charges recognized as fixed assets in the Organization’s financial statements may be recorded as expenditures in the program financial reports.
Title: FEDERAL PASS-THROUGH FUNDS
Accounting Policies: This Schedule was prepared on the modified accrual basis of accounting. The modified accrual basis differs from the full accrual basis of accounting in that expenditures for property and equipment are expensed when incurred, rather than being capitalized and depreciated over their useful lives, and expenditures for the principal portion of debt service are expensed when incurred, rather than being applied to reduce the outstanding principal portion of debt, which conforms to the basis of reporting to grantors for reimbursement under the terms of the Organization’s federal grants.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimus cost rate.
The Organization is also the sub-recipient of federal funds that have been subjected to testing and are reported as expenditures and listed as federal pass-through funds. Federal awards other than those indicated as pass-through funds are considered to be direct.
Title: CONTINGENCIES
Accounting Policies: This Schedule was prepared on the modified accrual basis of accounting. The modified accrual basis differs from the full accrual basis of accounting in that expenditures for property and equipment are expensed when incurred, rather than being capitalized and depreciated over their useful lives, and expenditures for the principal portion of debt service are expensed when incurred, rather than being applied to reduce the outstanding principal portion of debt, which conforms to the basis of reporting to grantors for reimbursement under the terms of the Organization’s federal grants.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimus cost rate.
Grant monies received and disbursed by the Organization are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon prior experience, the Organization does not believe that such disallowance, if any, would have a material effect on the financial position of the Organization. As of September 30, 2023, there were no material questioned or disallowed costs as a result of grant audits in process or completed.
Title: NONCASH ASSISTANCE
Accounting Policies: This Schedule was prepared on the modified accrual basis of accounting. The modified accrual basis differs from the full accrual basis of accounting in that expenditures for property and equipment are expensed when incurred, rather than being capitalized and depreciated over their useful lives, and expenditures for the principal portion of debt service are expensed when incurred, rather than being applied to reduce the outstanding principal portion of debt, which conforms to the basis of reporting to grantors for reimbursement under the terms of the Organization’s federal grants.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimus cost rate.
The Organization did not receive any federal noncash assistance for the fiscal year ended September 30, 2023.
Title: LOANS AND LOAN GUARANTEES
Accounting Policies: This Schedule was prepared on the modified accrual basis of accounting. The modified accrual basis differs from the full accrual basis of accounting in that expenditures for property and equipment are expensed when incurred, rather than being capitalized and depreciated over their useful lives, and expenditures for the principal portion of debt service are expensed when incurred, rather than being applied to reduce the outstanding principal portion of debt, which conforms to the basis of reporting to grantors for reimbursement under the terms of the Organization’s federal grants.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimus cost rate.
The Organization did not have any loans or loan guarantee programs required to be reported on the schedule for the fiscal year ended September 30, 2023.