Title: Note A - Basis of Presentation
Accounting Policies: Expenditures are reported on an 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. ASPIRA has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Operating expenses directly identified with a functional area are charged to that area and, where those expenses affect more than one area, they are allocated on a reasonable basis that is consistently applied.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of ASPIRA Inc. of Illinois (the Organization) under programs of the federal government for the year ended June 30, 2023. The information in this 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 Organization, it is not intended to and does not present the financial position, change in net assets, or cash flows of the Organization.
Title: Note B - Summary of Significant Accounting Policies
Accounting Policies: Expenditures are reported on an 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. ASPIRA has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Operating expenses directly identified with a functional area are charged to that area and, where those expenses affect more than one area, they are allocated on a reasonable basis that is consistently applied.
Expenditures reported on the Schedule are reported on an 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 C-Indirect Cost Rate
Accounting Policies: Expenditures are reported on an 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. ASPIRA has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Operating expenses directly identified with a functional area are charged to that area and, where those expenses affect more than one area, they are allocated on a reasonable basis that is consistently applied.
ASPIRA has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note D - Subrecipients
Accounting Policies: Expenditures are reported on an 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. ASPIRA has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Operating expenses directly identified with a functional area are charged to that area and, where those expenses affect more than one area, they are allocated on a reasonable basis that is consistently applied.
There were no awards passed through to subrecipients for the year ended June 30, 2023.
Title: Note E - Non-Cash Assistance
Accounting Policies: Expenditures are reported on an 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. ASPIRA has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Operating expenses directly identified with a functional area are charged to that area and, where those expenses affect more than one area, they are allocated on a reasonable basis that is consistently applied.
ASPIRA did not receive any federal non-cash assistance during the year ended June 30, 2023.
Title: Note F - Loans and Interest Subsidies
Accounting Policies: Expenditures are reported on an 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. ASPIRA has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Operating expenses directly identified with a functional area are charged to that area and, where those expenses affect more than one area, they are allocated on a reasonable basis that is consistently applied.
ASPIRA did not have any federal loans or loan guarantees outstanding as of June 30, 2023. There were no interest subsidies for the year ended June 30, 2023.
Title: Note G - Insurance
Accounting Policies: Expenditures are reported on an 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. ASPIRA has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Operating expenses directly identified with a functional area are charged to that area and, where those expenses affect more than one area, they are allocated on a reasonable basis that is consistently applied.
ASPIRA had the following insurance coverage in effect during the fiscal year 2023.