Title: Basis of Presentation
Accounting Policies: The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program.
De Minimis Rate Used: N
Rate Explanation: Under the Uniform Guidance, absent to an agreed upon indirect cost rate, the Agency must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs administered by Central Nassau Guidance and Counseling Services, Inc. (the “Agency”), a nonprofit entity as defined in Note 1 to the Agency’s financial statements. Federal awards received directly from Federal agencies, as well as federal awards passed-through from other government agencies, are included on the Schedule of Expenditures of Federal Awards. The information in the 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 operations of the Agency, it is not intended to and does not present the financial position, change in net assets or cash flows of the Agency.
Title: Basis of Accounting
Accounting Policies: The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program.
De Minimis Rate Used: N
Rate Explanation: Under the Uniform Guidance, absent to an agreed upon indirect cost rate, the Agency must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program.
The amounts reported as federal expenditures generally were obtained from the appropriate federal financial reports for the applicable program and periods. The amounts reported in these federal financial reports are prepared from records maintained for each program. 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.
Title: Disallowances/adjustments
Accounting Policies: The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program.
De Minimis Rate Used: N
Rate Explanation: Under the Uniform Guidance, absent to an agreed upon indirect cost rate, the Agency must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
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.
Title: Indirect Cost
Accounting Policies: The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program.
De Minimis Rate Used: N
Rate Explanation: Under the Uniform Guidance, absent to an agreed upon indirect cost rate, the Agency must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
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 to an agreed upon indirect cost rate, the Agency must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Matching Costs
Accounting Policies: The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program.
De Minimis Rate Used: N
Rate Explanation: Under the Uniform Guidance, absent to an agreed upon indirect cost rate, the Agency must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Matching costs (i.e. the Agency’s share of certain program costs) are not included in the reported expenditures.
Title: Major Program Determination
Accounting Policies: The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program.
De Minimis Rate Used: N
Rate Explanation: Under the Uniform Guidance, absent to an agreed upon indirect cost rate, the Agency must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Agency 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.