Title: Basis of Presentation
Accounting Policies: The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts included in these reports are prepared from records maintained for each program, which are reconciled with the
Retreat’s financial reporting system. These records are periodically reconciled to the general ledger which is the source of the general purpose financial statements. 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: Y
Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source of the data presented. Under the Uniform Guidance, absent an agreed upon indirect cost rate, the Retreat must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. There is no other indirect cost allocation plan in effect.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Retreat Inc. (the “Retreat”, a nonprofit organization) as defined in Note (1) to the Retreat’s financial statements, under programs of the federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with the requirement 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 the Retreat, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of the Retreat.
Title: Summary of Significant Accounting Policies
Accounting Policies: The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts included in these reports are prepared from records maintained for each program, which are reconciled with the
Retreat’s financial reporting system. These records are periodically reconciled to the general ledger which is the source of the general purpose financial statements. 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: Y
Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source of the data presented. Under the Uniform Guidance, absent an agreed upon indirect cost rate, the Retreat must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. There is no other indirect cost allocation plan in effect.
The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts included in these reports are prepared from records maintained for each program, which are reconciled with the
Retreat’s financial reporting system. These records are periodically reconciled to the general ledger which is the source of the general purpose financial statements. 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.
Disallowances/adjustments
Negative amounts shown on the Schedule of Expenditures of Federal Awards (when applicable) represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Indirect Costs
Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source of the data presented. Under the Uniform Guidance, absent an agreed upon indirect cost rate, the Retreat must elect to use the 10-
percent de minimis indirect cost rate as allowed under the Uniform Guidance. There is no other indirect cost allocation plan in effect.
Matching Costs
Matching costs (i.e. the Retreat’s share of certain program costs) are not included in the reported expenditures.
Title: Other Disclosures
Accounting Policies: The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts included in these reports are prepared from records maintained for each program, which are reconciled with the
Retreat’s financial reporting system. These records are periodically reconciled to the general ledger which is the source of the general purpose financial statements. 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: Y
Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source of the data presented. Under the Uniform Guidance, absent an agreed upon indirect cost rate, the Retreat must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. There is no other indirect cost allocation plan in effect.
No insurance is carried specifically to cover equipment purchased with federal funds. Any equipment purchased with federal funds has only a nominal value, and is covered by the Retreat’s casualty insurance policies.
There were no loans or loan guarantees outstanding at year end.
Title: Major Program Determination
Accounting Policies: The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts included in these reports are prepared from records maintained for each program, which are reconciled with the
Retreat’s financial reporting system. These records are periodically reconciled to the general ledger which is the source of the general purpose financial statements. 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: Y
Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source of the data presented. Under the Uniform Guidance, absent an agreed upon indirect cost rate, the Retreat must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. There is no other indirect cost allocation plan in effect.
The Retreat has determined that all federal programs with expenditures of $750,000 or more are Type A Programs and deemed Major Programs for purposes of the Schedule of Expenditures of Federal Awards.