Title: Note 3 - Major Program Selection
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Goldbelt Heritage Foundation (the Foundation) under programs of the federal government for the year ended December 31, 2023. 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 Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Foundation.
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: Y
Rate Explanation: The Goldbelt Heritage Foundation has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The major Federal Award Program selected for testing is as follows:
U.S. DEPARTMENT OF EDUCATION
- Alaska Native Educational Programs
The requirements of the Office of Management and Budget Uniform Guidance prescribe that all major programs as determined by the auditor on a risk-based approach and/or at least 40% (20% for low-risk auditees) of all federal awards be subject to specific control and/or compliance testing. For the Goldbelt Heritage Foundation, the program subject to these requirements is listed above. The total expenditures of this program represent 60.68% of the total federal expenditures.
Amount of
Programs ALN Expenditures
Pacific Northwest and Hawaiian Islands Arts 15.071 $ 15,721
Indian Education Discretionary Programs 84.299A 585,449
Alaska Native Educational Programs 84.356A 1,194,390*
Substance Abuse and Mental Health Services Projects 93.243 172,750
Total Federal Awards $ 1,968,310
* Denotes Major Program
Title: Note 4 - Major Program Disclosure
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Goldbelt Heritage Foundation (the Foundation) under programs of the federal government for the year ended December 31, 2023. 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 Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Foundation.
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: Y
Rate Explanation: The Goldbelt Heritage Foundation has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Alaska Native Educational Programs - ALN 84.356A
The Alaska Native Educational Programs are designed to support projects that recognize and address the unique educational needs of Alaska Native students, to recognize the role of Alaska Native languages and cultures and to integrate Alaska Native languages and cultures into education, to support supplemental education programs that benefit Alaska Natives, and to ensure the maximum participation by Alaska Native educators and leaders in programs designed to serve Alaska Native students. Mandatory activities include: (1) the development and implementation of plans, methods, strategies, and activities to improve the educational outcomes of Alaska Natives; and (2) the collection of data to assist in the evaluation of Alaska Native Programs. Allowable activities include, but are not limited to: (1) the development of curricula and education programs that address the educational needs of Alaska Native students; (2) the development and operation of student enrichment programs in science and mathematics; (3) professional development activities for educators; (4) early childhood and parenting education activities, including family literacy services, and; (5) dropout prevention programs.
Title: Note 5 - Pass-Through Funds
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Goldbelt Heritage Foundation (the Foundation) under programs of the federal government for the year ended December 31, 2023. 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 Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Foundation.
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: Y
Rate Explanation: The Goldbelt Heritage Foundation has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Foundation did not pass through any federal funds to subrecipients during the year ended December 31, 2023.