Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the 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.
De Minimis Rate Used: N
Rate Explanation: Indirect costs were not submitted for reimbursement
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Fletcher Falcon Enterprise Corporation 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 tor Federal Awards (Uniform Guidance). The Schedule presents only a selected portion of the operations of The Fletcher Falcon Enterprise Corporation and is not intended to and does not present the financial position, changes in net assets, or cash flows of The Fletcher Falcon Enterprise Corporation.
Title: Summary of Significant Accounting Principles
Accounting Policies: Expenditures reported on the 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.
De Minimis Rate Used: N
Rate Explanation: Indirect costs were not submitted for reimbursement
Expenditures reported on the 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.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the 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.
De Minimis Rate Used: N
Rate Explanation: Indirect costs were not submitted for reimbursement
The Fletcher Falcon Enterprise Corporation has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Assistance Lsiting Numbers
Accounting Policies: Expenditures reported on the 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.
De Minimis Rate Used: N
Rate Explanation: Indirect costs were not submitted for reimbursement
The Assistance Listing Numbers included in this report were determined based on the program name, review of grant contract information, and resources on the sam.gov website.
Title: Passed through to Subrecipients
Accounting Policies: Expenditures reported on the 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.
De Minimis Rate Used: N
Rate Explanation: Indirect costs were not submitted for reimbursement
100% of the awards were passed through to the LCTCS Facilities Corporation, a Louisiana non profit corporation who finances and constructs land and facilities projects for the Louisiana Community and Technical College System.