Notes to SEFA
Title: Note 3
Accounting Policies: A. Basis of Accounting: NMTWB utilized the accrual basis of accounting in preparing the schedule.B. Property and Equipment: Expenditures for property and equipment are expensed in the schedule,where applicable.C. Indirect Cost Rate: NMTWB has not elected to use the 10% de minimis indirect cost rate allowedunder the Uniform Guidance.D. Allocation of Administrative: Administrative expenses were allocated among programs, on a monthlybasis, based on each program's non-administrative expenditures. Training expenses (indirect programcosts) are allocated based on monthly clients served by each program.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Grantor Agency AbbreviationsUSDL United States Department of LaborTDLWD Tennessee Department of Labor and Workforce Development
Title: Note 4
Accounting Policies: A. Basis of Accounting: NMTWB utilized the accrual basis of accounting in preparing the schedule.B. Property and Equipment: Expenditures for property and equipment are expensed in the schedule,where applicable.C. Indirect Cost Rate: NMTWB has not elected to use the 10% de minimis indirect cost rate allowedunder the Uniform Guidance.D. Allocation of Administrative: Administrative expenses were allocated among programs, on a monthlybasis, based on each program's non-administrative expenditures. Training expenses (indirect programcosts) are allocated based on monthly clients served by each program.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Additional InformationThere was no non-cash federal assistance expended during the year. There were no federal insurance or loans or loan guarantees during the audit period.