Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule”) presents the federal grant expenditures of the Diocesan Central Funds of the R.C. Diocese of Brooklyn, New York (the “Diocesan Central Funds”) for the year ended August 31, 2023. The Schedule was prepared under the accrual basis of accounting and is in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). For purposes of this Schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements and other noncash assistance, if any. Accordingly, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the Fiscal 2023 combined financial statements.
De Minimis Rate Used: N
Rate Explanation: The Diocesan Central Funds has elected to not use the 10% de minimus indirect cost rate as provided by §200.414 Indirect (“F&A”) Costs of the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the ”Schedule”) presents the federal grant expenditures of the Diocesan Central Funds of the R.C. Diocese of Brooklyn, New York (the “Diocesan Central Funds”) for the year ended August 31, 2023. The Schedule was prepared under the accrual basis of accounting and is in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). For purposes of this Schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements and other noncash assistance, if any. Accordingly, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the fiscal 2023 combined financial statements.
Title: RECONCILIATION OF FEDERAL EXPENDITURES RELATED TO DISASTER GRANTS FEDERAL ASSISTANCE LISTING #97.036; REPORTED IN THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS TO THE DIOCESAN CENTRAL FUNDS COMBINED FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule”) presents the federal grant expenditures of the Diocesan Central Funds of the R.C. Diocese of Brooklyn, New York (the “Diocesan Central Funds”) for the year ended August 31, 2023. The Schedule was prepared under the accrual basis of accounting and is in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). For purposes of this Schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements and other noncash assistance, if any. Accordingly, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the Fiscal 2023 combined financial statements.
De Minimis Rate Used: N
Rate Explanation: The Diocesan Central Funds has elected to not use the 10% de minimus indirect cost rate as provided by §200.414 Indirect (“F&A”) Costs of the Uniform Guidance.
In connection with Disaster Relief grants received, the Diocesan Central Funds is required to report in the accompanying Schedule all federal expenditures made that correspond to all obligations that had been made through August 31, 2023, regardless of which fiscal year(s) the expenditures were actually incurred.
A reconciliation of the fiscal 2023 Diocesan Central Funds combined financial statements to the Schedule, follows.
Total fiscal year 2023 Disaster Grant revenue reported in the combined financial statements $4,572,390
Less: Disaster Grant expenditures incurred during the prior fiscal year for which obligations for government reimbursement occurred during fiscal year 2023 ($1,354,707)
Fiscal Year 2023 amounts presented in the Schedule of Expenditures of Federal Awards $3,217,683
Title: INDIRECT COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule”) presents the federal grant expenditures of the Diocesan Central Funds of the R.C. Diocese of Brooklyn, New York (the “Diocesan Central Funds”) for the year ended August 31, 2023. The Schedule was prepared under the accrual basis of accounting and is in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). For purposes of this Schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements and other noncash assistance, if any. Accordingly, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the Fiscal 2023 combined financial statements.
De Minimis Rate Used: N
Rate Explanation: The Diocesan Central Funds has elected to not use the 10% de minimus indirect cost rate as provided by §200.414 Indirect (“F&A”) Costs of the Uniform Guidance.
The Diocesan Central Funds has elected to not use the 10% de minimus indirect cost rate as provided by §200.414 Indirect (“F&A”) Costs of the Uniform Guidance.