Audit 307987

Accounting Policies: BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of East Tennessee Clean Fuels Coalition under programs of the federal government for the year ended September 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of the 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 East Tennessee Clean Fuels Coalition, it is not intended to and does not present the financial position, changes in net assets, or cash flows of East Tennessee Clean Fuels Coalition. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in OMB’s Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. East Tennessee Clean Fuels Coalition has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: Y Rate Explanation: Expenditures reported on the schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in OMB’s Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. East Tennessee Clean Fuels Coalition has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.