Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards 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: NCBA has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of the National Caucus and Center on Black Aging, Inc., (NCBA) under programs of the federal government for the year ended December 31, 2022. 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 NCBA, it is not intended to and does not present the financial position, changes in net assets or cash flows of NCBA.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards 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: NCBA has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
Expenditures reported on the Schedule of Expenditures of Federal Awards 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: INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards 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: NCBA has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
NCBA has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
Title: SUBSEQUENT EVENTS
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards 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: NCBA has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
NCBA’s management has evaluated subsequent events through July 2, 2024. NCBA is not aware of any subsequent events that would require recognition or disclosure in the schedule of expenditures of federal awards.