Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: 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 (Uniform Guidance), wherein certain types of expenditures are
not allowable or are limited as to reimbursement. Any negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. FTA has elected not to use the 10-percent de minimis indirect cost
rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal award activity of Forest Trends Association (FTA) 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 FTA, it is not intended to and does not present the financial position, changes in net
assets or cash flows of FTA.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: 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 (Uniform Guidance), wherein certain types of expenditures are
not allowable or are limited as to reimbursement. Any negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. FTA has elected not to use the 10-percent de minimis indirect cost
rate as allowed under the Uniform Guidance.
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 (Uniform Guidance), wherein certain types of expenditures are
not allowable or are limited as to reimbursement. Any negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. FTA has elected not to use the 10-percent de minimis indirect cost
rate as allowed under the Uniform Guidance.
Title: Note 3. Reconciliation of Schedule of Expenditures of Federal Awards to Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: 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 (Uniform Guidance), wherein certain types of expenditures are
not allowable or are limited as to reimbursement. Any negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. FTA has elected not to use the 10-percent de minimis indirect cost
rate as allowed under the Uniform Guidance.
Following is a reconciliation of total grants and contracts as reported in the Consolidated
Statements of Activities and Changes in Net Assets to the Schedule of FTA's Expenditures of
Federal Awards:
Grants and contributions (without donor restrictions) revenue per
Consolidated Statements of Activities and Changes in Net Assets $ 6,317,775
Federal portion 5,500,733
Non-Federal portion 817,042
Total Federal and non-Federal grants and contributions revenue 6,317,775
TOTAL FEDERAL EXPENDITURES $ 5,500,733