Title: BASIS OF PRESENTATION
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (THE SCHEDULE) INCLUDES FEDERAL GRANT ACTIVITY OF GEORGIA-ALABAMA LAND TRUST, INC. UNDER PROGRAMS FOR 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 ADMINISTRATVIE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUIDANCE). BECAUSE THE SCHEDULE PRESENTS ONLY A SELECTED PORTION OF THE OPERATIONS OF GEORGIA-ALABAMA LAND TRUST, INC., IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET ASSETS, OR CASH FLOWS OF GEORGIA-ALABAMA LAND TRUST, INC. EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTINUED IN THE UNIFORM GUIDANCE, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT. GEORGIA-ALABAMA LAND TRUST,INC. HAS SELECTED TO NOT USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.
De Minimis Rate Used: N
Rate Explanation: The Auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Georgia-Alabama Land Trust, Inc. under programs for 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 Georgia-Alabama Land Trust, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Georgia-Alabama Land Trust, Inc.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (THE SCHEDULE) INCLUDES FEDERAL GRANT ACTIVITY OF GEORGIA-ALABAMA LAND TRUST, INC. UNDER PROGRAMS FOR 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 ADMINISTRATVIE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUIDANCE). BECAUSE THE SCHEDULE PRESENTS ONLY A SELECTED PORTION OF THE OPERATIONS OF GEORGIA-ALABAMA LAND TRUST, INC., IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET ASSETS, OR CASH FLOWS OF GEORGIA-ALABAMA LAND TRUST, INC. EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTINUED IN THE UNIFORM GUIDANCE, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT. GEORGIA-ALABAMA LAND TRUST,INC. HAS SELECTED TO NOT USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.
De Minimis Rate Used: N
Rate Explanation: The Auditee did not use the de minimis cost rate.
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. Georgia-Alabama Land Trust, Inc. has elected to not use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: INDIRECT COST RATE
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (THE SCHEDULE) INCLUDES FEDERAL GRANT ACTIVITY OF GEORGIA-ALABAMA LAND TRUST, INC. UNDER PROGRAMS FOR 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 ADMINISTRATVIE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUIDANCE). BECAUSE THE SCHEDULE PRESENTS ONLY A SELECTED PORTION OF THE OPERATIONS OF GEORGIA-ALABAMA LAND TRUST, INC., IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET ASSETS, OR CASH FLOWS OF GEORGIA-ALABAMA LAND TRUST, INC. EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTINUED IN THE UNIFORM GUIDANCE, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT. GEORGIA-ALABAMA LAND TRUST,INC. HAS SELECTED TO NOT USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.
De Minimis Rate Used: N
Rate Explanation: The Auditee did not use the de minimis cost rate.
The Organization elected not to use the 10-percent de minimis indirect cost rate.