Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards include the federal grant
activity of the Better Business Bureau of El Paso, Inc. and Foundation, (a nonprofit
organization) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in
this schedule may differ from amounts presented in, or used in the preparation of, the basic
financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% percent minimum indirect cost rate allowed
under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards include the federal grant activity of the Better Business Bureau of El Paso, Inc. and Foundation, (a nonprofit organization) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in
this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: OVERSIGHT AGENCY
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards include the federal grant
activity of the Better Business Bureau of El Paso, Inc. and Foundation, (a nonprofit
organization) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in
this schedule may differ from amounts presented in, or used in the preparation of, the basic
financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% percent minimum indirect cost rate allowed
under the Uniform Guidance.
The U.S. Department of Treasury is the Board's oversight agency for the single audit.
Title: INDIRECT COST RATE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards include the federal grant
activity of the Better Business Bureau of El Paso, Inc. and Foundation, (a nonprofit
organization) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in
this schedule may differ from amounts presented in, or used in the preparation of, the basic
financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% percent minimum indirect cost rate allowed
under the Uniform Guidance.
The Organization has elected to not use the 10% percent minimum indirect cost rate allowed under the Uniform Guidance.
Title: CONTINGENCIES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards include the federal grant
activity of the Better Business Bureau of El Paso, Inc. and Foundation, (a nonprofit
organization) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in
this schedule may differ from amounts presented in, or used in the preparation of, the basic
financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% percent minimum indirect cost rate allowed
under the Uniform Guidance.
The entity had in effect for the fiscal year ended December 31, 2023 the following insurance
coverage:
Commercial General Liability $3,000,000
Automobile $1,000,000
Umbrella $1,000,000
Directors and Officers $1,000,000
Title: RECONCILIATION OF FEDERAL AW ARD
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards include the federal grant
activity of the Better Business Bureau of El Paso, Inc. and Foundation, (a nonprofit
organization) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in
this schedule may differ from amounts presented in, or used in the preparation of, the basic
financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% percent minimum indirect cost rate allowed
under the Uniform Guidance.
Total federal financial $787,950
El Paso City funding -not billed at year-end $(142,032)
Local and state funding financial assistance 136,996
Total economic development $782,914