Notes to SEFA
Title: Note A. BASIS OF PRESENTATION
Accounting Policies: Note B
De Minimis Rate Used: N
Rate Explanation: Not cost reimbursement basis
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Vibrant Hawaiʻi under programs of 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 Vibrant Hawaiʻi, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Vibrant Hawaiʻi.
Title: Note B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Note B
De Minimis Rate Used: N
Rate Explanation: Not cost reimbursement basis
Basis of Accounting: Expenditures reported on this 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.
Indirect Cost Rate: The Organization has not elected to use the 10% de minimis cost rate.
Matching Requirements: Certain Federal Programs require non-Federal cost share to support the Federally-funded programs. The Organization has met the matching requirements. The Schedule does not include the expenditure of non-Federal matching funds.
Title: Note C. SUBRECIPIENT PASS THROUGH AWARDS
Accounting Policies: Note B
De Minimis Rate Used: N
Rate Explanation: Not cost reimbursement basis
No Federal awards were passed through to subrecipients.