Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Black Owners of Solar Services (B.O.S.S.) under a program of the federal government for the year ended December 31, 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 B.O.S.S., it is not intended to and does not present the financial position, changes in net assets, or cash flows of B.O.S.S.
De Minimis Rate Used: N
Rate Explanation: The auditee did not utilize the de minimis cost rate. Instead, they opted for a provisional indirect cost rate of 26.88%. This choice allows for the recovery of indirect costs at a negotiated rate based on the organization's actual costs, which may vary from the fixed de minimis rate of 10% of modified total direct costs. By using a provisional rate, the auditee can better align their indirect cost recovery with their current organizational expenses and funding requirements.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Black Owners of Solar Services (B.O.S.S.) under a program of the federal government for the year ended December 31, 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 B.O.S.S., it is not intended to and does not present the financial position, changes in net assets, or cash flows of B.O.S.S.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Black Owners of Solar Services (B.O.S.S.) under a program of the federal government for the year ended December 31, 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 B.O.S.S., it is not intended to and does not present the financial position, changes in net assets, or cash flows of B.O.S.S.
De Minimis Rate Used: N
Rate Explanation: The auditee did not utilize the de minimis cost rate. Instead, they opted for a provisional indirect cost rate of 26.88%. This choice allows for the recovery of indirect costs at a negotiated rate based on the organization's actual costs, which may vary from the fixed de minimis rate of 10% of modified total direct costs. By using a provisional rate, the auditee can better align their indirect cost recovery with their current organizational expenses and funding requirements.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Black Owners of Solar Services (B.O.S.S.) under a program of the federal government for the year ended December 31, 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 B.O.S.S., it is not intended to and does not present the financial position, changes in net assets, or cash flows of B.O.S.S.
De Minimis Rate Used: N
Rate Explanation: The auditee did not utilize the de minimis cost rate. Instead, they opted for a provisional indirect cost rate of 26.88%. This choice allows for the recovery of indirect costs at a negotiated rate based on the organization's actual costs, which may vary from the fixed de minimis rate of 10% of modified total direct costs. By using a provisional rate, the auditee can better align their indirect cost recovery with their current organizational expenses and funding requirements.
B.O.S.S. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.