Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of Wabash Area Development, Inc. 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: Y
Rate Explanation: The not-for-profit organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of federal awards includes the federal grant activity of Wabash Area Development, Inc. 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
Title: Subrecipients
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of Wabash Area Development, Inc. 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: Y
Rate Explanation: The not-for-profit organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The total amount provided to subrecipients from all Federal Programs is $-0-.
Title: Non-cash assistance
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of Wabash Area Development, Inc. 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: Y
Rate Explanation: The not-for-profit organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The total amount of non-cash assistance, amount of Federal insurance in effect during the year, and the loans or loan guarantees outstanding is "none".
Title: De minimis
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of Wabash Area Development, Inc. 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: Y
Rate Explanation: The not-for-profit organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The not-for-profit organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.