Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported using 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.
De Minimis Rate Used: N
Rate Explanation: Indirect costs may be included in the reported expenditures to the extent that they are included in the federal financial reports. Certain of the Organization's federal award programs have been charged with indirect costs based on the Organization's cost allocation plan.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Friends of the North Country, Inc. under programs of the federal government for the year ended March 31, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200 Uniform Administrative Requirements, Cost Principles and Audit Requirements of Federal Awards. Because the schedule only presents a selected portion of the operations of the Friends of the North Country, Inc. it is not intended to and does not present the financial position, changes in net assets or cash flows ot Friends of the North Country, Inc.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported using 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.
De Minimis Rate Used: N
Rate Explanation: Indirect costs may be included in the reported expenditures to the extent that they are included in the federal financial reports. Certain of the Organization's federal award programs have been charged with indirect costs based on the Organization's cost allocation plan.
There were no subrecipients.