Title: Basis of Accounting
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards 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. Greater New Orleans, Inc. and affiliate, Greater New Orleans Development Foundation, has not applied for its own indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: Greater New Orleans, Inc. and affiliate, Greater New Orleans Development Foundation, has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards 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. Greater New Orleans, Inc. and affiliate, Greater New Orleans Development Foundation, has not applied for its own indirect cost rate.
Title: Risk-based audit approach
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards 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. Greater New Orleans, Inc. and affiliate, Greater New Orleans Development Foundation, has not applied for its own indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: Greater New Orleans, Inc. and affiliate, Greater New Orleans Development Foundation, has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The dollar threshold used to distinguish between Type A and Type B programs is $750,000. The Organization does qualify as a low-risk auditee.
Title: Possible ineligible, disallowed and questioned costs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards 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. Greater New Orleans, Inc. and affiliate, Greater New Orleans Development Foundation, has not applied for its own indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: Greater New Orleans, Inc. and affiliate, Greater New Orleans Development Foundation, has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Greater New Orleans, Inc. and affiliate, Greater New Orleans Development Foundation, are subject to audits and investigations by state and federal agencies or their designees for compliance with contractual and programmatic requirements with regard to funding provided to Greater New Orleans, Inc. and Affiliate. The determination of whether any instances of noncompliance that will ultimately result in remittance by Greater New Orleans, Inc. and affiliate, Greater New Orleans Development Foundation, of any ineligible or disallowed costs cannot be presently determined.
Title: Indirect Cost rate
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards 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. Greater New Orleans, Inc. and affiliate, Greater New Orleans Development Foundation, has not applied for its own indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: Greater New Orleans, Inc. and affiliate, Greater New Orleans Development Foundation, has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Greater New Orleans, Inc. and affiliate, Greater New Orleans Development Foundation, has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.