Title: Basis of Presentation
Accounting Policies: 1. BASIS OF PRESENTATION
The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Council under programs of the federal government for the year ended September 30, 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). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the Schedule presents only a selected portion of the operations of Council, it is not intended to and does not present the financial position, changes in net assets or cash flows of Council.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
All of Council’s federal awards were in form of cash assistance for the year ended September 30, 2023.
Council had no federally funded insurance programs or loan guarantees during the year ended September 30, 2023.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Council has elected not to use the 10% de minimus cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization does not use the de minimis cost rate
The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Council under programs of the federal government for the year ended September 30, 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). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the Schedule presents only a selected portion of the operations of Council, it is not intended to and does not present the financial position, changes in net assets or cash flows of Council.
Title: Summary of Significant Accounting Policies
Accounting Policies: 1. BASIS OF PRESENTATION
The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Council under programs of the federal government for the year ended September 30, 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). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the Schedule presents only a selected portion of the operations of Council, it is not intended to and does not present the financial position, changes in net assets or cash flows of Council.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
All of Council’s federal awards were in form of cash assistance for the year ended September 30, 2023.
Council had no federally funded insurance programs or loan guarantees during the year ended September 30, 2023.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Council has elected not to use the 10% de minimus cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization does not use the de minimis cost rate
All of Council’s federal awards were in form of cash assistance for the year ended September 30, 2023. Council had no federally funded insurance programs or loan guarantees during the year ended September 30, 2023.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Council has elected not to use the 10% de minimus cost rate allowed under the Uniform Guidance.
Title: Reconciliation with Audited Financial Statements
Accounting Policies: 1. BASIS OF PRESENTATION
The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Council under programs of the federal government for the year ended September 30, 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). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the Schedule presents only a selected portion of the operations of Council, it is not intended to and does not present the financial position, changes in net assets or cash flows of Council.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
All of Council’s federal awards were in form of cash assistance for the year ended September 30, 2023.
Council had no federally funded insurance programs or loan guarantees during the year ended September 30, 2023.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Council has elected not to use the 10% de minimus cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization does not use the de minimis cost rate
The following summary reconciles total federal awards with the audited financial statements for the year ended September 30, 2023: