Title: Note 1 - Basis of Presentation
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or 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 Center has elected not to use the 10percent de minimis indirect cost rate allowed under the
Uniform Guidance. During the year ended June 30, 2023, the Center used an indirect rate of 21.8%,
which was the latest approved provisional rate from Department of Health & Human Services, unless
the grant agreements stated a lower rate.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Los Angeles LGBT Center and Affiliates (the “Center”) under programs of the federal government for the year ended June 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 the Center, it is not intended to and does not present the consolidated financial position, changes in net assets or cash flows of the Center.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or 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 Center has elected not to use the 10percent de minimis indirect cost rate allowed under the
Uniform Guidance. During the year ended June 30, 2023, the Center used an indirect rate of 21.8%,
which was the latest approved provisional rate from Department of Health & Human Services, unless
the grant agreements stated a lower rate.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement
Title: Note 3 - Indirect Cost Rate
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or 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 Center has elected not to use the 10percent de minimis indirect cost rate allowed under the
Uniform Guidance. During the year ended June 30, 2023, the Center used an indirect rate of 21.8%,
which was the latest approved provisional rate from Department of Health & Human Services, unless
the grant agreements stated a lower rate.
The Center has elected not to use the 10percent de minimis indirect cost rate allowed under the Uniform Guidance. During the year ended June 30, 2023, the Center used an indirect rate of 21.8%, which was the latest approved provisional rate from Department of Health & Human Services, unless the grant agreements stated a lower rate.
Title: Note 4 - Subrecipients
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or 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 Center has elected not to use the 10percent de minimis indirect cost rate allowed under the
Uniform Guidance. During the year ended June 30, 2023, the Center used an indirect rate of 21.8%,
which was the latest approved provisional rate from Department of Health & Human Services, unless
the grant agreements stated a lower rate.
The Center provided no federal funds to subrecipients for the year ended June 30, 2023.