Title: NOTE 1 – Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: In fiscal year 2023, CMTC received an approved rate of 12.15% from the Department of Commerce. CMTC did not use the de minimis cost rate. The indirect cost rate has a carryforward provision that requires CMTC to reconcile future indirect cost rate calculations with any over- or under-charge of indirect costs.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of California Manufacturing Technology Consulting (CMTC) under programs of the federal government for the year ended September 30, 2023. The information in the 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 CMTC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CMTC.
Title: NOTE 2 - Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: In fiscal year 2023, CMTC received an approved rate of 12.15% from the Department of Commerce. CMTC did not use the de minimis cost rate. The indirect cost rate has a carryforward provision that requires CMTC to reconcile future indirect cost rate calculations with any over- or under-charge of indirect costs.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE 3 – Subrecipient Match Transactions
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: In fiscal year 2023, CMTC received an approved rate of 12.15% from the Department of Commerce. CMTC did not use the de minimis cost rate. The indirect cost rate has a carryforward provision that requires CMTC to reconcile future indirect cost rate calculations with any over- or under-charge of indirect costs.
During fiscal year 2023, CMTC reported Subrecipient Non-Federal Match expenses from various entities. The match was submitted to CMTC through Subaward Agreements to facilitate training, outreach, and the adoption of advanced manufacturing technologies and techniques to California manufacturers and their workforce. The match was not provided from federal sources and may include the direct cost of services provided by state and local programs. The match is not included either in the consolidated financial statements or the Schedule of Expenditures of Federal Awards and is limited to the dollar amount in the approved NIST MEP budget.
Amount reported from Biocom California $ 90,531
Amount reported from Butte Glenn Community College District 109,990
Amount reported from California Manufacturers & Technology Association 9 9,951
Amount reported from Chico State Enterprises 3 0,143
Amount reported from East County Economic Development Council 104,335
Amount reported from El Camino Community College District 100,000
Amount reported from Glendale Community College District 8 0,000
Amount reported from The Corporation for Manufacturing Excellence (Manex) 1 ,180,842
Amount reported from Opportunity Stanislaus 395,070
Amount reported from San Bernardino Community College District 150,000
Amount reported from SFMADE, Inc. 465,636
$ 2,806,498
Title: NOTE 4 – Indirect Costs
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: In fiscal year 2023, CMTC received an approved rate of 12.15% from the Department of Commerce. CMTC did not use the de minimis cost rate. The indirect cost rate has a carryforward provision that requires CMTC to reconcile future indirect cost rate calculations with any over- or under-charge of indirect costs.
In fiscal year 2023, CMTC received an approved rate of 12.15% from the Department of Commerce. CMTC did not use the de minimis cost rate. The indirect cost rate has a carryforward provision that requires CMTC to reconcile future indirect cost rate calculations with any over- or under-charge of indirect costs.