Audit 300323

Title: Basis of Presentation Accounting Policies: Note 1 – Basis of Presentation The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Organization and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. The Organization did not use a 10% de minimis indirect cost rate as of June 30, 2023. De Minimis Rate Used: N Rate Explanation: Organization staff and contractors track their detailed time and provide monthly time sheets to the bookkeeper.   That time is coded by project and grant dollars are utilized to cover that time.  Expenses are also coded to projects or activities and coded on invoices, credit card statements and expense reports.    Unrestricted dollars are utilized for any time or expenses that may exceed what any particular grant may allow or that exceed the amount of restricted grant dollars awarded.  But many, if not most, of the Organizations grants cover Organization staff time and some direct expenses such as travel, meeting costs, consultants, etc.   The Organization does have unrestricted revenue  to support all of the work:  The Ogranization Member/Designated Districts make an annual contribution which are unrestricted, thus the Organization does not use the de minimus indirect cost rate. The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Organization and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. The Organization did not use a 10% de minimis indirect cost rate as of June 30, 2023.