Title: NOTE 1. BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of
accounting. Such expenditures are recognized following the cost principles contained
in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CNFA has a negotiated indirect cost rate agreeement.
The accompanying schedule of expenditures of federal awards (the Schedule)
includes the federal awards activity of CNFA under programs of the federal
government for the year ended December 31, 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 CNFA, it is not intended to and does not
present the financial position, changes in net assets, or cash flows of CNFA as a whole.
Title: NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of
accounting. Such expenditures are recognized following the cost principles contained
in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CNFA has a negotiated indirect cost rate agreeement.
Expenditures reported on the Schedule are reported on the accrual basis of
accounting. Such expenditures are recognized following the cost principles contained
in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
Title: NOTE 3. RECONCILIATION TO FINANCIAL STATEMENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of
accounting. Such expenditures are recognized following the cost principles contained
in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CNFA has a negotiated indirect cost rate agreeement.
Total revenue from Government grants, cooperative
agreements and contracts per statement of activities $ 72,973,504
Fixed fee and other grant revenue in excess of
expenditures ( 627,627)
Total expenditures of federal awards $ 72,345,877
Title: NOTE 4. INDIRECT COSTS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of
accounting. Such expenditures are recognized following the cost principles contained
in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CNFA has a negotiated indirect cost rate agreeement.
CNFA has not elected the 10% indirect cost rate recovery option.