Title: 1. General Information
Accounting Policies: 1. General Information:
The accompanying Schedule of Expenditures of Federal and State Awards includes the federal
and state awards activity of EmPoWER Somerset, Inc., under programs of the federal and state
government for the year ended December 31, 2023. All financial awards received directly from
federal and state agencies as well as financial awards passed through other governmental
agencies or not-for-profit organizations are included on the schedule. 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 EmPoWER Somerset, Inc., it is not intended to and does not
present the financial position, changes in net assets, or cash flows of EmPoWER Somerset, Inc.
2. Basis of Accounting:
The accompanying Schedule of Expenditures of Federal and State Awards is presented using the
accrual basis of accounting. The amounts recognized following the cost principles contained in
Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards and/or OMB Circular A-122, Cost Principles for Non- profit Organizations where
certain types of expenditures are not allowable or are limited as to reimbursement. If present,
negative amounts reflected in the schedule represent adjustments or credit resulting from the
normal course of business to amounts reported as expenditures in prior years. The amounts
reported in this schedule as expenditures may differ from certain financial reports submitted to
federal and state funding agencies due to those reports being submitted on either a cash or
modified accrual basis of accounting.
3. Relationship to Basic Financial Statements:
Federal and State Award expenditures are reported on the Statement of Functional Expenses as
program services. In certain programs, the expenditures reported in the financial statements may
differ from the expenditures reported in the Schedule of Expenditures of Federal and State
Awards due to program expenditures exceeding grant or contract budget limitations, matching or
in-kind contributions or capitalization policies required under accounting principles generally
accepted in the United States of America.
4. Indirect Cost Rate:
EmPoWER Somerset, Inc., has elected not to use the 10% de minimus indirect cost rates as
allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal and State Awards includes the federal
and state awards activity of EmPoWER Somerset, Inc., under programs of the federal and state
government for the year ended December 31, 2023. All financial awards received directly from
federal and state agencies as well as financial awards passed through other governmental
agencies or not-for-profit organizations are included on the schedule. 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 EmPoWER Somerset, Inc., it is not intended to and does not
present the financial position, changes in net assets, or cash flows of EmPoWER Somerset, Inc.
Title: 2. Basis of Accounting
Accounting Policies: 1. General Information:
The accompanying Schedule of Expenditures of Federal and State Awards includes the federal
and state awards activity of EmPoWER Somerset, Inc., under programs of the federal and state
government for the year ended December 31, 2023. All financial awards received directly from
federal and state agencies as well as financial awards passed through other governmental
agencies or not-for-profit organizations are included on the schedule. 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 EmPoWER Somerset, Inc., it is not intended to and does not
present the financial position, changes in net assets, or cash flows of EmPoWER Somerset, Inc.
2. Basis of Accounting:
The accompanying Schedule of Expenditures of Federal and State Awards is presented using the
accrual basis of accounting. The amounts recognized following the cost principles contained in
Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards and/or OMB Circular A-122, Cost Principles for Non- profit Organizations where
certain types of expenditures are not allowable or are limited as to reimbursement. If present,
negative amounts reflected in the schedule represent adjustments or credit resulting from the
normal course of business to amounts reported as expenditures in prior years. The amounts
reported in this schedule as expenditures may differ from certain financial reports submitted to
federal and state funding agencies due to those reports being submitted on either a cash or
modified accrual basis of accounting.
3. Relationship to Basic Financial Statements:
Federal and State Award expenditures are reported on the Statement of Functional Expenses as
program services. In certain programs, the expenditures reported in the financial statements may
differ from the expenditures reported in the Schedule of Expenditures of Federal and State
Awards due to program expenditures exceeding grant or contract budget limitations, matching or
in-kind contributions or capitalization policies required under accounting principles generally
accepted in the United States of America.
4. Indirect Cost Rate:
EmPoWER Somerset, Inc., has elected not to use the 10% de minimus indirect cost rates as
allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal and State Awards is presented using the
accrual basis of accounting. The amounts recognized following the cost principles contained in
Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards and/or OMB Circular A-122, Cost Principles for Non- profit Organizations where
certain types of expenditures are not allowable or are limited as to reimbursement. If present,
negative amounts reflected in the schedule represent adjustments or credit resulting from the
normal course of business to amounts reported as expenditures in prior years. The amounts
reported in this schedule as expenditures may differ from certain financial reports submitted to
federal and state funding agencies due to those reports being submitted on either a cash or
modified accrual basis of accounting.
Title: 3. Relationship to Basic Financial Statements
Accounting Policies: 1. General Information:
The accompanying Schedule of Expenditures of Federal and State Awards includes the federal
and state awards activity of EmPoWER Somerset, Inc., under programs of the federal and state
government for the year ended December 31, 2023. All financial awards received directly from
federal and state agencies as well as financial awards passed through other governmental
agencies or not-for-profit organizations are included on the schedule. 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 EmPoWER Somerset, Inc., it is not intended to and does not
present the financial position, changes in net assets, or cash flows of EmPoWER Somerset, Inc.
2. Basis of Accounting:
The accompanying Schedule of Expenditures of Federal and State Awards is presented using the
accrual basis of accounting. The amounts recognized following the cost principles contained in
Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards and/or OMB Circular A-122, Cost Principles for Non- profit Organizations where
certain types of expenditures are not allowable or are limited as to reimbursement. If present,
negative amounts reflected in the schedule represent adjustments or credit resulting from the
normal course of business to amounts reported as expenditures in prior years. The amounts
reported in this schedule as expenditures may differ from certain financial reports submitted to
federal and state funding agencies due to those reports being submitted on either a cash or
modified accrual basis of accounting.
3. Relationship to Basic Financial Statements:
Federal and State Award expenditures are reported on the Statement of Functional Expenses as
program services. In certain programs, the expenditures reported in the financial statements may
differ from the expenditures reported in the Schedule of Expenditures of Federal and State
Awards due to program expenditures exceeding grant or contract budget limitations, matching or
in-kind contributions or capitalization policies required under accounting principles generally
accepted in the United States of America.
4. Indirect Cost Rate:
EmPoWER Somerset, Inc., has elected not to use the 10% de minimus indirect cost rates as
allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal and State Award expenditures are reported on the Statement of Functional Expenses as
program services. In certain programs, the expenditures reported in the financial statements may
differ from the expenditures reported in the Schedule of Expenditures of Federal and State
Awards due to program expenditures exceeding grant or contract budget limitations, matching or
in-kind contributions or capitalization policies required under accounting principles generally
accepted in the United States of America.
Title: 4. Indirect Cost Rate
Accounting Policies: 1. General Information:
The accompanying Schedule of Expenditures of Federal and State Awards includes the federal
and state awards activity of EmPoWER Somerset, Inc., under programs of the federal and state
government for the year ended December 31, 2023. All financial awards received directly from
federal and state agencies as well as financial awards passed through other governmental
agencies or not-for-profit organizations are included on the schedule. 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 EmPoWER Somerset, Inc., it is not intended to and does not
present the financial position, changes in net assets, or cash flows of EmPoWER Somerset, Inc.
2. Basis of Accounting:
The accompanying Schedule of Expenditures of Federal and State Awards is presented using the
accrual basis of accounting. The amounts recognized following the cost principles contained in
Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards and/or OMB Circular A-122, Cost Principles for Non- profit Organizations where
certain types of expenditures are not allowable or are limited as to reimbursement. If present,
negative amounts reflected in the schedule represent adjustments or credit resulting from the
normal course of business to amounts reported as expenditures in prior years. The amounts
reported in this schedule as expenditures may differ from certain financial reports submitted to
federal and state funding agencies due to those reports being submitted on either a cash or
modified accrual basis of accounting.
3. Relationship to Basic Financial Statements:
Federal and State Award expenditures are reported on the Statement of Functional Expenses as
program services. In certain programs, the expenditures reported in the financial statements may
differ from the expenditures reported in the Schedule of Expenditures of Federal and State
Awards due to program expenditures exceeding grant or contract budget limitations, matching or
in-kind contributions or capitalization policies required under accounting principles generally
accepted in the United States of America.
4. Indirect Cost Rate:
EmPoWER Somerset, Inc., has elected not to use the 10% de minimus indirect cost rates as
allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
EmPoWER Somerset, Inc., has elected not to use the 10% de minimus indirect cost rates as
allowed under Uniform Guidance.