Title: Note 2 - Reconciliation of Revenue Reported in the Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant
activity of Underground Railroad, Inc. under programs of the federal government for the year ended September
30, 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 Underground Railroad, Inc., it is not intended to and does not
present the financial position or changes in net position of Underground Railroad, Inc..
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. Negative
amounts (if any) shown on the Schedule represent adjustments or credit made in the normal course of
business to amounts reported as expenditures.
The Underground Railroad, Inc. has elected to use the 10 percent de minimus indirect cost rate to recover costs as
allowed under the Uniform Guidance.
The Underground Railroad, Inc. does not have any subrecipients.
De Minimis Rate Used: Y
Rate Explanation: The Underground Railroad, Inc. has elected to use the 10 percent de minimus indirect cost rate to recover costs as allowed under the Uniform Guidance.
See the Notes to the SEFA for chart/table
Title: Note 3 - Entity Abbreviation of Pass-Through Agencies
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant
activity of Underground Railroad, Inc. under programs of the federal government for the year ended September
30, 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 Underground Railroad, Inc., it is not intended to and does not
present the financial position or changes in net position of Underground Railroad, Inc..
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. Negative
amounts (if any) shown on the Schedule represent adjustments or credit made in the normal course of
business to amounts reported as expenditures.
The Underground Railroad, Inc. has elected to use the 10 percent de minimus indirect cost rate to recover costs as
allowed under the Uniform Guidance.
The Underground Railroad, Inc. does not have any subrecipients.
De Minimis Rate Used: Y
Rate Explanation: The Underground Railroad, Inc. has elected to use the 10 percent de minimus indirect cost rate to recover costs as allowed under the Uniform Guidance.
See the Notes to the SEFA for chart/table
Title: Note 4 - (Unaudited) Donated Personal Protective Equipment
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant
activity of Underground Railroad, Inc. under programs of the federal government for the year ended September
30, 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 Underground Railroad, Inc., it is not intended to and does not
present the financial position or changes in net position of Underground Railroad, Inc..
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. Negative
amounts (if any) shown on the Schedule represent adjustments or credit made in the normal course of
business to amounts reported as expenditures.
The Underground Railroad, Inc. has elected to use the 10 percent de minimus indirect cost rate to recover costs as
allowed under the Uniform Guidance.
The Underground Railroad, Inc. does not have any subrecipients.
De Minimis Rate Used: Y
Rate Explanation: The Underground Railroad, Inc. has elected to use the 10 percent de minimus indirect cost rate to recover costs as allowed under the Uniform Guidance.
For the year ended September 30, 2023, the Organization did not receive donated personal protective equipment.