Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the cash 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.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: NC Counts Coalition has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of grant receipts and expenditures of federal awards (the "Schedule")
includes the federal award activity of NC Counts Coalition under programs of the federal government
for the year 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 operation of NC Counts Coalition, it is not intended to and does not present the financial position, changes in net assets or cash flows of NC Counts Coalition.
Title: COMMITMENT AND CONTINGENCIES
Accounting Policies: Expenditures reported on the Schedule are reported on the cash 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.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: NC Counts Coalition has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Federal grants received by the NC Counts Coalition are subject to review and audit by grantor agencies. NC Counts Coalition‘s management believes that the results of such audits will not have a material effect on the Schedule.