Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Brave New Software Project, Inc., (“The Organization”) received federal and state funding through grants and contracts with certain federal and state agencies and subawards with various other agencies. The accompanying schedule of expenditures of federal awards includes federal grant activity of the Organization. The information in this 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 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 financial statements.The schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Expenditures are recorded for program activities and capital purchases in accordance with the terms of the applicable award. Revenues are recognized to the extent of expenditures incurred in the financial statements of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance
Brave New Software Project, Inc., (“The Organization”) received federal and state funding through grants and contracts with certain federal and state agencies and subawards with various other agencies. The accompanying schedule of expenditures of federal awards includes federal grant activity of the Organization. The information in this 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 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 financial statements.
Title: Summary of Account policies
Accounting Policies: Brave New Software Project, Inc., (“The Organization”) received federal and state funding through grants and contracts with certain federal and state agencies and subawards with various other agencies. The accompanying schedule of expenditures of federal awards includes federal grant activity of the Organization. The information in this 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 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 financial statements.The schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Expenditures are recorded for program activities and capital purchases in accordance with the terms of the applicable award. Revenues are recognized to the extent of expenditures incurred in the financial statements of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance
The schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Expenditures are recorded for program activities and capital purchases in accordance with the terms of the applicable award. Revenues are recognized to the extent of expenditures incurred in the financial statements of the Organization
Title: Indirect Costs
Accounting Policies: Brave New Software Project, Inc., (“The Organization”) received federal and state funding through grants and contracts with certain federal and state agencies and subawards with various other agencies. The accompanying schedule of expenditures of federal awards includes federal grant activity of the Organization. The information in this 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 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 financial statements.The schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Expenditures are recorded for program activities and capital purchases in accordance with the terms of the applicable award. Revenues are recognized to the extent of expenditures incurred in the financial statements of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance
The Organization has elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance