Title: NOTE 1 - Basis of Presentation
Accounting Policies: This schedule of expenditures of federal awards (the "Schedule") includes the federal activity of The Rhode Island Public Health Foundation 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 (CFR), 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 Rhode Island Public Health Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of The Rhode Island Public Health Foundation.
De Minimis Rate Used: Both
Rate Explanation: The Rhode Island Public Health Foundation was awarded a 17.3% indirect cost rate and a 20.4% fringe rate on December 6, 2022. However, some agencies would not accept the negotiated rates, and as such, the di minimis indirect cost rate and the actual fringe benefit rates were used.
This schedule of expenditures of federal awards (the"Schedule") includes the federal activity of The Rhode Island Public Health Foundation under programs of the federal government for the year ended December 31, 2023. The informaation in this Schedule is presented in accordance with the requirements of Title 2 U.S. "Code of Federal Regulations (CFR), 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 Rhode Island Public Health Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of The Rhode Island Public Health Foundation.
Title: NOTE 2 - Summary of Significant Accounting Policies
Accounting Policies: This schedule of expenditures of federal awards (the "Schedule") includes the federal activity of The Rhode Island Public Health Foundation 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 (CFR), 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 Rhode Island Public Health Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of The Rhode Island Public Health Foundation.
De Minimis Rate Used: Both
Rate Explanation: The Rhode Island Public Health Foundation was awarded a 17.3% indirect cost rate and a 20.4% fringe rate on December 6, 2022. However, some agencies would not accept the negotiated rates, and as such, the di minimis indirect cost rate and the actual fringe benefit rates were used.
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.
Title: NOTE 3 - De Minimis Indirect Cost Rate
Accounting Policies: This schedule of expenditures of federal awards (the "Schedule") includes the federal activity of The Rhode Island Public Health Foundation 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 (CFR), 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 Rhode Island Public Health Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of The Rhode Island Public Health Foundation.
De Minimis Rate Used: Both
Rate Explanation: The Rhode Island Public Health Foundation was awarded a 17.3% indirect cost rate and a 20.4% fringe rate on December 6, 2022. However, some agencies would not accept the negotiated rates, and as such, the di minimis indirect cost rate and the actual fringe benefit rates were used.
The Rhode Island Public Health Foundation was awarded a 17.30% indirect cost rate and a 20.40% fringe benefit rate on December 6, 2022. However, some agencies would not accept the negotiated rates, and as such, the di minimis indirect cost and the actual fringe benefit rates were used.