Title: 1
Accounting Policies: 1. The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Battles Village, Inc. under programs of the federal government for the year ended December 31, 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 Battles Village, Inc., it is not intended to and does not present the financial position, changes in net deficit, or cash flows of Battles Village, Inc.
2. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Battles Village, Inc. has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate as no indirect costs were applied as a federal expenditure.
1. The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Battles Village, Inc. under programs of the federal government for the year ended December 31, 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 Battles Village, Inc., it is not intended to and does not present the financial position, changes in net deficit, or cash flows of Battles Village, Inc.
Title: 2
Accounting Policies: 1. The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Battles Village, Inc. under programs of the federal government for the year ended December 31, 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 Battles Village, Inc., it is not intended to and does not present the financial position, changes in net deficit, or cash flows of Battles Village, Inc.
2. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Battles Village, Inc. has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate as no indirect costs were applied as a federal expenditure.
2. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Battles Village, Inc. has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: 3
Accounting Policies: 1. The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Battles Village, Inc. under programs of the federal government for the year ended December 31, 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 Battles Village, Inc., it is not intended to and does not present the financial position, changes in net deficit, or cash flows of Battles Village, Inc.
2. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Battles Village, Inc. has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate as no indirect costs were applied as a federal expenditure.
3. The federal loan programs listed subsequently are administered directly by Battles Village, Inc., and balances and transactions relating to these programs are included in Battles Village, Inc.’s basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at December 31, 2023 consists of: [See the Notes to the SEFA for chart/table]