Title: Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Northern Tier Community Action Corporation and is presented on the accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and the 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.
De Minimis Rate Used: N
Rate Explanation: The Corporation did not elect to use the 10 percent (10%) de minimis cost rate for the year ended June 30, 2023.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Northern Tier Community Action Corporation and is presented on the accrual basis of accounting. The information in 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 the 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.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Northern Tier Community Action Corporation and is presented on the accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and the 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.
De Minimis Rate Used: N
Rate Explanation: The Corporation did not elect to use the 10 percent (10%) de minimis cost rate for the year ended June 30, 2023.
Expenditures reported on the accompanying schedule of expenditures of federal awards are reported in accordance with generally accepted accounting principles. (GAAP) Indirect Cost Rate - The Corporation did not elect to use the ten percent (10%) de minimis indirect cost rate for the year ended June 30, 2023. Amounts Passed to Subrecipeints - The Corporation did not provide federal awards to subrecipients during the year ended June 30, 2023. Fee-for-Service Contracts - The Corporation recognizes revenue applicable to fee-for-service contracts as services are performed. For presentation on the Schedule of Expenditures of Federal Awards, program expenditures were assumed to be equal to revenue recognized. However, actual expenditures may vary from amounts presented. The Emergency Food Assistance Program - Funds provided the Corporation for The Emergency Food Assistance Program Administrative Costs as presented in the Schedule of Expenditures of Federal Awards may not be exclusively federal funds. County dollars were provided the Corporation when allowable administrative costs exceeded federal allotments. Specific identification was not made for financial statement presentation.
Title: Reconciliation of Statement of Financial Position to Schedule of Expenditures of Federal Awards
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Northern Tier Community Action Corporation and is presented on the accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and the 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.
De Minimis Rate Used: N
Rate Explanation: The Corporation did not elect to use the 10 percent (10%) de minimis cost rate for the year ended June 30, 2023.
Statement of financial position account balances at June 30, 2023 Grants Receivable $412,914.01
Less: Non-federal Amount (5390.68)
407,523.33
Deferred Revenue (1,383,204.08)
Less: Non-federal Amount 245,085.36
(1,138,118.72)
Total Cash/Accrued of (Deferred)
Revenue at June 30, 2023,
Schedule of Expenditures of
Federal Awards ($730,595.39)
Title: Reconciliation of Expenses per Statement of Activities to Schedule of Expenditures of Federal Awards
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Northern Tier Community Action Corporation and is presented on the accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and the 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.
De Minimis Rate Used: N
Rate Explanation: The Corporation did not elect to use the 10 percent (10%) de minimis cost rate for the year ended June 30, 2023.
Total Expenses per Statement of Activities $7,822,029.06 Less: Non-Federal Program Funds (947,872.18) Less: In-Kind Expenses (488,252.17) Less: Depreciation Exp-Federal Programs (32,759.13) Total Expenses - SEFA $6,353,145.40