Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Civil Air Patrol (CAP) and is presented on the accrual basis of accounting. Under this basis of accounting, revenues are recognized when earned and expenses are recognized when the related liability is incurred. The information in the Schedule is presented in accordance with the provisions of the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some of the amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the Consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Civil Air Patrol (CAP) and is presented on the accrual basis of accounting. Under this basis of accounting, revenues are recognized when earned and expenses are recognized when the related liability is incurred. The information in the Schedule is presented in accordance with the provisions of the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some of the amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the Consolidated financial statements.
Title: REPORTING ENTITY
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Civil Air Patrol (CAP) and is presented on the accrual basis of accounting. Under this basis of accounting, revenues are recognized when earned and expenses are recognized when the related liability is incurred. The information in the Schedule is presented in accordance with the provisions of the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some of the amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the Consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Civil Air Patrol’s reporting entity is fully described in Note 1 to the consolidated financial statements. The financial reporting entity includes the National Headquarters and the Regions, Wings and Units below Wing level.
Title: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Civil Air Patrol (CAP) and is presented on the accrual basis of accounting. Under this basis of accounting, revenues are recognized when earned and expenses are recognized when the related liability is incurred. The information in the Schedule is presented in accordance with the provisions of the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some of the amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the Consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Civil Air Patrol did not provide federal awards to any subrecipients during the year ended September 30, 2023.
Title: PROGRAM INCOME
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Civil Air Patrol (CAP) and is presented on the accrual basis of accounting. Under this basis of accounting, revenues are recognized when earned and expenses are recognized when the related liability is incurred. The information in the Schedule is presented in accordance with the provisions of the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some of the amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the Consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
In accordance with the terms of the Cooperative Agreement with the United States Air Force, $2,384,163 in program income earned during 2023 was added to funding committed by the Government and was used by Civil Air Patrol to further eligible program objectives.
Title: INDIRECT COST RATES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Civil Air Patrol (CAP) and is presented on the accrual basis of accounting. Under this basis of accounting, revenues are recognized when earned and expenses are recognized when the related liability is incurred. The information in the Schedule is presented in accordance with the provisions of the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some of the amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the Consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Civil Air Patrol did not elect to charge a de minimis cost rate of 10% for federal awards.