Notes to SEFA
Title: Cost Sharing
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Ohio Humanities 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 for Federal Awards (“Uniform
Guidance”). Because the Schedule presents only a selected portion of the operations of Ohio Humanities, it is not intended to and does not present the financial position, changes in net assets or cash flows of Ohio Humanities.
Expenditures reported on the Schedule are presented 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: Ohio Humanities has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Ohio Humanities is supported by annual grants from the National Endowment for the Humanities (“NEH”). The NEH requires a dollar-for-dollar match of its awarded funds by Ohio Humanities. The matching funds from Ohio Humanities may come from contributions, program income earned by Ohio Humanities, and the allowable costs that a sub-recipient incurs in carrying out an Ohio Humanities funded project. Ohio Humanities has the entire grant period to generate the required match. The supplemental NEH grant received during the year ended December 31, 2023 does not have a matching requirement. Much of Ohio Humanities’ cost-share support is generated from re-grant awards. For the year ended December 31, 2023, Ohio Humanities utilized the following amounts in cost-share support from re-grant activities:
Cash contributions $ 195,442
In-kind contributions 876,339
Total cost - sharing $ 1,071,781