Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: Basis of presentation - The accompanying Schedule of Expenditures of Federal Awards (SEFA) summarizes the federal expenditures of SWAPTE under programs of the federal government for the year ended June 30, 2023. The amounts reported as federal expenditures were obtained from the Organization's general ledger. Because the SEFA presents only a selected portion of the operations of SWAPTE, it is not intended to and does not present the financial position, changes in net assets, and cash flows of SWAPTE.
For purposes of the SEFA, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass-through entities. SWAPTE has obtained Catalog of Federal Domestic Assistance (CFDA) numbers to ensure that all programs have been identified in the SEFA. 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 OMB Circular A-133. The cluster applicable to the CFDA numbers in the SEFA is the Workforce Innovation and Opportunity Act - This cluster includes awards that design and offer training services to equip individuals to enter the workforce and/or retain employment. The grant awards from this cluster are received from the U. S. Department of Labor. The SEFA was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Overhead rate is specified by grantor agency.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) summarizes the federal expenditures of SWAPTE under programs of the federal government for the year ended June 30, 2023. The amounts reported as federal expenditures were obtained from the Organization's general ledger. Because the SEFA presents only a selected portion of the operations of SWAPTE, it is not intended to and does not present the financial position, changes in net assets, and cash flows of SWAPTE.
Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: Basis of presentation - The accompanying Schedule of Expenditures of Federal Awards (SEFA) summarizes the federal expenditures of SWAPTE under programs of the federal government for the year ended June 30, 2023. The amounts reported as federal expenditures were obtained from the Organization's general ledger. Because the SEFA presents only a selected portion of the operations of SWAPTE, it is not intended to and does not present the financial position, changes in net assets, and cash flows of SWAPTE.
For purposes of the SEFA, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass-through entities. SWAPTE has obtained Catalog of Federal Domestic Assistance (CFDA) numbers to ensure that all programs have been identified in the SEFA. 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 OMB Circular A-133. The cluster applicable to the CFDA numbers in the SEFA is the Workforce Innovation and Opportunity Act - This cluster includes awards that design and offer training services to equip individuals to enter the workforce and/or retain employment. The grant awards from this cluster are received from the U. S. Department of Labor. The SEFA was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Overhead rate is specified by grantor agency.
For purposes of the SEFA, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass-through entities. SWAPTE has obtained Catalog of Federal Domestic Assistance (CFDA) numbers to ensure that all programs have been identified in the SEFA. 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 OMB Circular A-133. The cluster applicable to the CFDA numbers in the SEFA is:
Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: Basis of presentation - The accompanying Schedule of Expenditures of Federal Awards (SEFA) summarizes the federal expenditures of SWAPTE under programs of the federal government for the year ended June 30, 2023. The amounts reported as federal expenditures were obtained from the Organization's general ledger. Because the SEFA presents only a selected portion of the operations of SWAPTE, it is not intended to and does not present the financial position, changes in net assets, and cash flows of SWAPTE.
For purposes of the SEFA, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass-through entities. SWAPTE has obtained Catalog of Federal Domestic Assistance (CFDA) numbers to ensure that all programs have been identified in the SEFA. 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 OMB Circular A-133. The cluster applicable to the CFDA numbers in the SEFA is the Workforce Innovation and Opportunity Act - This cluster includes awards that design and offer training services to equip individuals to enter the workforce and/or retain employment. The grant awards from this cluster are received from the U. S. Department of Labor. The SEFA was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Overhead rate is specified by grantor agency.
Workforce Innovation and Opportunity Act - This cluster includes awards that design and offer training services to equip individuals to enter the workforce and/or retain employment. The grant awards from this cluster are received from the U. S. Department of Labor.
Title: NOTE 2 - FEDERAL PASS-THROUGH FUNDS
Accounting Policies: Basis of presentation - The accompanying Schedule of Expenditures of Federal Awards (SEFA) summarizes the federal expenditures of SWAPTE under programs of the federal government for the year ended June 30, 2023. The amounts reported as federal expenditures were obtained from the Organization's general ledger. Because the SEFA presents only a selected portion of the operations of SWAPTE, it is not intended to and does not present the financial position, changes in net assets, and cash flows of SWAPTE.
For purposes of the SEFA, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass-through entities. SWAPTE has obtained Catalog of Federal Domestic Assistance (CFDA) numbers to ensure that all programs have been identified in the SEFA. 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 OMB Circular A-133. The cluster applicable to the CFDA numbers in the SEFA is the Workforce Innovation and Opportunity Act - This cluster includes awards that design and offer training services to equip individuals to enter the workforce and/or retain employment. The grant awards from this cluster are received from the U. S. Department of Labor. The SEFA was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Overhead rate is specified by grantor agency.
SWAPTE is the sub-recipient of federal funds that have been subjected to testing and are reported as expenditures and listed as federal pass-through funds.
Title: NOTE 3 - BASIS OF ACCOUNTING
Accounting Policies: Basis of presentation - The accompanying Schedule of Expenditures of Federal Awards (SEFA) summarizes the federal expenditures of SWAPTE under programs of the federal government for the year ended June 30, 2023. The amounts reported as federal expenditures were obtained from the Organization's general ledger. Because the SEFA presents only a selected portion of the operations of SWAPTE, it is not intended to and does not present the financial position, changes in net assets, and cash flows of SWAPTE.
For purposes of the SEFA, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass-through entities. SWAPTE has obtained Catalog of Federal Domestic Assistance (CFDA) numbers to ensure that all programs have been identified in the SEFA. 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 OMB Circular A-133. The cluster applicable to the CFDA numbers in the SEFA is the Workforce Innovation and Opportunity Act - This cluster includes awards that design and offer training services to equip individuals to enter the workforce and/or retain employment. The grant awards from this cluster are received from the U. S. Department of Labor. The SEFA was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Overhead rate is specified by grantor agency.
The SEFA was prepared on the accrual basis of accounting.
Title: NOTE 4 - CONTINGENCIES
Accounting Policies: Basis of presentation - The accompanying Schedule of Expenditures of Federal Awards (SEFA) summarizes the federal expenditures of SWAPTE under programs of the federal government for the year ended June 30, 2023. The amounts reported as federal expenditures were obtained from the Organization's general ledger. Because the SEFA presents only a selected portion of the operations of SWAPTE, it is not intended to and does not present the financial position, changes in net assets, and cash flows of SWAPTE.
For purposes of the SEFA, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass-through entities. SWAPTE has obtained Catalog of Federal Domestic Assistance (CFDA) numbers to ensure that all programs have been identified in the SEFA. 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 OMB Circular A-133. The cluster applicable to the CFDA numbers in the SEFA is the Workforce Innovation and Opportunity Act - This cluster includes awards that design and offer training services to equip individuals to enter the workforce and/or retain employment. The grant awards from this cluster are received from the U. S. Department of Labor. The SEFA was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Overhead rate is specified by grantor agency.
Grant proceeds received and disbursed by SWAPTE 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 on prior experience, SWAPTE does not believe that such disallowances, if any, would have a material effect on the financial position of the Organization. As of June 30, 2023, there are no material questioned or disallowed costs as a result of grant audits in process or completed