Title: NOTE 1—BASIS OF PRESENTATION
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes expenditures related to the direct and indirect federal grants of the Organization and is presented on the accrual basis of accounting. The information is presented in accordance with the requirements of the Uniform Guidance. Federal award expenditures are reported on the statement of activities and change in net assets as program services. Some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards includes expenditures related to the direct and indirect federal grants of the Organization and is presented on the accrual basis of accounting. The information is presented following 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 Brandywine, it is not intended to and does not present the financial position, results of operations, changes in net assets, or cash flows of Brandywine.
Title: NOTE 2— SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes expenditures related to the direct and indirect federal grants of the Organization and is presented on the accrual basis of accounting. The information is presented in accordance with the requirements of the Uniform Guidance. Federal award expenditures are reported on the statement of activities and change in net assets as program services. Some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and accordingly, when such fuunds are received in advance, they are recorded as deferred revenue until earned. Once costs are incurred on reimbursement grants, a receivable from the granting agency is recorded. Grant revenues are also considered earned upon the purchase of a capital asset.
Title: NOTE 3—RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes expenditures related to the direct and indirect federal grants of the Organization and is presented on the accrual basis of accounting. The information is presented in accordance with the requirements of the Uniform Guidance. Federal award expenditures are reported on the statement of activities and change in net assets as program services. Some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Federal expenditures are recognized following, as applicable, the cost principles contained in 2 CFR, Part 200, Subpart E, Cost Principles, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. Additionally, expenditures incurred for various programs may exceed the amounts awarded from the respective pass-through entity or agency. The amounts reported on the Schedule are limited to the award amounts. Amounts in excess of this amount are paid out of non-federal sources.
Title: NOTE 4—FEDERAL INDIRECT RATE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes expenditures related to the direct and indirect federal grants of the Organization and is presented on the accrual basis of accounting. The information is presented in accordance with the requirements of the Uniform Guidance. Federal award expenditures are reported on the statement of activities and change in net assets as program services. Some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Allowable indirect costs for each award are determined by the related terms and conditions developed by the awarding agency for each program. Brandywine has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 5—DISASTER GRANTS - PUBLIC ASSISTANCE (PRESIDENTIALLY DECLARED DISASTERS)
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes expenditures related to the direct and indirect federal grants of the Organization and is presented on the accrual basis of accounting. The information is presented in accordance with the requirements of the Uniform Guidance. Federal award expenditures are reported on the statement of activities and change in net assets as program services. Some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
In accordance with guidance from the U.S. Department of Homeland Security, the amount presented on the SEFA for Assistance Listing Numbers 97.036 and 97.039 – Disaster Grants – Public Assistance (Presidentially Declared Disasters), represents expenditures that were incurred as of the end of the fiscal year, related to project worksheets approved by the Federal Emergency Management Agency (FEMA) during the fiscal year. Brandywine reported $11,136,047 in funding from FEMA during the fiscal year ended June 30, 2024. Of this amount, $5,697,188 in expenditures were incurred prior to the beginning of the fiscal year.