Title: BASIS OF PRESENTATION
Accounting Policies: ACCURAL
De Minimis Rate Used: N
Rate Explanation: USED ACTUAL EXPENDITRUES
The accompanying schedule of expenditures of federal awards (the SEFA) summarizes the federal expenditures of the Organization under programs of the federal government for the year ended December 31, 2022. The amounts reported as federal expenditures were obtained from the Organization’s general ledger. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the SEFA presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets and cash flows of the Organization.
Title: BASIS OF PRESENTATION
Accounting Policies: ACCURAL
De Minimis Rate Used: N
Rate Explanation: USED ACTUAL EXPENDITRUES
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. The Organization has obtained Assistance Listing numbers to ensure that all programs have been identified in the SEFA. Assistance Listing numbers have been appropriately listed by applicable programs. Federal programs with different Assistance Listing numbers that are closely related because they share common compliance requirements are defined as a cluster by the Uniform Guidance.
Title: RELATIONS OF THE SCHEDULE TO PROGRAM FINANCIAL REPORTS
Accounting Policies: ACCURAL
De Minimis Rate Used: N
Rate Explanation: USED ACTUAL EXPENDITRUES
The amounts reflected in the financial reports submitted to the awarding federal and/or pass-through agencies and the SEFA for the year end may differ. Some of the factors that may account for any differences include the following:
Title: RELATIONS OF THE SCHEDULE TO PROGRAM FINANCIAL REPORTS
Accounting Policies: ACCURAL
De Minimis Rate Used: N
Rate Explanation: USED ACTUAL EXPENDITRUES
· The Organization’s fiscal year end may differ from the program’s year end.
Title: RELATIONS OF THE SCHEDULE TO PROGRAM FINANCIAL REPORTS
Accounting Policies: ACCURAL
De Minimis Rate Used: N
Rate Explanation: USED ACTUAL EXPENDITRUES
· Accruals recognized in the SEFA, because of year end procedures, may not be reported in the program financial reports until the next program reporting period.
Title: RELATIONS OF THE SCHEDULE TO PROGRAM FINANCIAL REPORTS
Accounting Policies: ACCURAL
De Minimis Rate Used: N
Rate Explanation: USED ACTUAL EXPENDITRUES
· Fixed asset purchased and the resultant depreciation charges are recognized as fixed assets in the Organization’s financial statements and as expenditures in the program financial reports.
Title: FEDERAL PASS-THROUGH FUNDS
Accounting Policies: ACCURAL
De Minimis Rate Used: N
Rate Explanation: USED ACTUAL EXPENDITRUES
The Organization 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. Federal awards other than those indicated as pass-through are considered direct.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: ACCURAL
De Minimis Rate Used: N
Rate Explanation: USED ACTUAL EXPENDITRUES
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.
Title: NONCASH ASSISTANCE
Accounting Policies: ACCURAL
De Minimis Rate Used: N
Rate Explanation: USED ACTUAL EXPENDITRUES
The Organization did not receive any federal assistance for the year ended December 31, 2022
Title: COST RATE
Accounting Policies: ACCURAL
De Minimis Rate Used: N
Rate Explanation: USED ACTUAL EXPENDITRUES
The Organization elected not to use the 10% de minimis cost rate.