Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accural 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: Y
Rate Explanation: The Organization has elected to use a ten percent de minimis cost rate as allowed under the Uniform Guidance.
Of the federal expenditures presented in the schedule, National Runway Switchboard provided federal awards to subrecipients as follows: None
Title: Insurance Coverage in Force
Accounting Policies: Expenditures reported on the Schedule are reported on the accural 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: Y
Rate Explanation: The Organization has elected to use a ten percent de minimis cost rate as allowed under the Uniform Guidance.
The Organization had $15,796 of insurance coverage in effect that was paid with federal funds during the year ended September 30, 2023.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accural 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: Y
Rate Explanation: The Organization has elected to use a ten percent de minimis 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Supplemental Funding
Accounting Policies: Expenditures reported on the Schedule are reported on the accural 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: Y
Rate Explanation: The Organization has elected to use a ten percent de minimis cost rate as allowed under the Uniform Guidance.
On April 24, 2020, the Organization was awarded supplemental funding under the CARES Act (Award Number 90CY903-03-01) in the amount of $666,854 for costs incurred on or after March 27, 2020 through September 29, 2020. As of September 30, 2022, costs disbursed by the Organization under the award were presented for financial reporting purposes in accordance with generally accepted accounting principles in the United States as follows: Costs incurred in fiscal year 2020 $325,614, Costs incurred in fiscal year 2021 $330,786, Unearned revenue at September 30, 2024 $10,454; Total $666,854
Title: Noncash Assistance
Accounting Policies: Expenditures reported on the Schedule are reported on the accural 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: Y
Rate Explanation: The Organization has elected to use a ten percent de minimis cost rate as allowed under the Uniform Guidance.
There was no noncash assistance during the year ended September 30, 2023.
Title: Loans Outstanding
Accounting Policies: Expenditures reported on the Schedule are reported on the accural 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: Y
Rate Explanation: The Organization has elected to use a ten percent de minimis cost rate as allowed under the Uniform Guidance.
The Organization had no federal loans or loan guarantees that was paid with federal funds during the year ended September 30, 2023.