Title: Purpose of the Schedule
Accounting Policies: Basis of Presentation:
The accompanying Schedule includes the federal grant activity of the Organization and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance.
Federal Financial Assistance:
Federal financial assistance is defined by the Uniform Guidance as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts, cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or direct appropriations. Accordingly, nonmonetary federal assistance, including federal surplus property, is included in federal financial assistance and, therefore, is reported on the Schedule, if applicable. Federal financial assistance does not include direct federal cash assistance to individuals. Solicited contracts between the Organization and the federal government for which the federal government procures tangible goods or services are not considered to be federal financial assistance.
Major Programs:
The Uniform Guidance establishes criteria to be used in defining major programs. Major programs for the Organization are those programs selected for testing by the auditor using a risk-assessment model, as well as certain minimum expenditure requirements, as outlined in the Uniform Guidance. Programs with similar requirements may be grouped into a cluster for testing purposes.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the ten percent de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) is presented for purposes of additional analysis as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Because the Schedule presents only a selected portion of the activities of DevNW (the Organization), it is not intended to and does not present the financial position, results of operations, or changes in net assets of the Organization.
Title: Loans and Loan Guarantee Programs
Accounting Policies: Basis of Presentation:
The accompanying Schedule includes the federal grant activity of the Organization and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance.
Federal Financial Assistance:
Federal financial assistance is defined by the Uniform Guidance as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts, cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or direct appropriations. Accordingly, nonmonetary federal assistance, including federal surplus property, is included in federal financial assistance and, therefore, is reported on the Schedule, if applicable. Federal financial assistance does not include direct federal cash assistance to individuals. Solicited contracts between the Organization and the federal government for which the federal government procures tangible goods or services are not considered to be federal financial assistance.
Major Programs:
The Uniform Guidance establishes criteria to be used in defining major programs. Major programs for the Organization are those programs selected for testing by the auditor using a risk-assessment model, as well as certain minimum expenditure requirements, as outlined in the Uniform Guidance. Programs with similar requirements may be grouped into a cluster for testing purposes.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the ten percent de minimis indirect cost rate.
For loan and loan guarantee programs for which there are continuing federal compliance requirements, the amount of expenditures reported on the Schedule is the sum of the loan balance at the beginning of the year, the value of new loans made during the year, and cash or administrative cost allowances received during the year.
The Organization has loans due to federal agencies for which there are continuing compliance
requirements. As of December 31, 2023, the outstanding loan balances on such loans were as
follows: see the Notes to the SEFA for chart/table.
Title: Subrecipients
Accounting Policies: Basis of Presentation:
The accompanying Schedule includes the federal grant activity of the Organization and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance.
Federal Financial Assistance:
Federal financial assistance is defined by the Uniform Guidance as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts, cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or direct appropriations. Accordingly, nonmonetary federal assistance, including federal surplus property, is included in federal financial assistance and, therefore, is reported on the Schedule, if applicable. Federal financial assistance does not include direct federal cash assistance to individuals. Solicited contracts between the Organization and the federal government for which the federal government procures tangible goods or services are not considered to be federal financial assistance.
Major Programs:
The Uniform Guidance establishes criteria to be used in defining major programs. Major programs for the Organization are those programs selected for testing by the auditor using a risk-assessment model, as well as certain minimum expenditure requirements, as outlined in the Uniform Guidance. Programs with similar requirements may be grouped into a cluster for testing purposes.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the ten percent de minimis indirect cost rate.
No award payments were made to subrecipients for the year ended December 31, 2023.