Notes to SEFA
Title: Pass-through to Sub-recipients
Accounting Policies: Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (“the Schedule”) includes the federal award activity of Lincoln under programs of the federal government for the year ended June 30, 2023. The 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 Lincoln, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Lincoln.
De Minimis Rate Used: N
Rate Explanation: Basis of Accounting
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR 200, Subpart E (Cost Principles), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Lincoln did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Lincoln did not provide any federal awards to sub-recipients.
Title: Other Information
Accounting Policies: Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (“the Schedule”) includes the federal award activity of Lincoln under programs of the federal government for the year ended June 30, 2023. The 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 Lincoln, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Lincoln.
De Minimis Rate Used: N
Rate Explanation: Basis of Accounting
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR 200, Subpart E (Cost Principles), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Lincoln did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Lincoln did not receive federal insurance, loans, or non-cash assistance during the year ended June 30, 2023.