Notes to SEFA
Title: Basis of Presentation
Accounting Policies: For purposes of the Schedule, expenditures of federal and state grant awards are recognized on the 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.
The Organization did not receive or expend any Federal or State awards during fiscal year 2024 in the form of non-cash assistance or provide any funds to subrecipients.
The Organization elected to not use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The expenditure threshold for classification as a Type A program is $750,000.
De Minimis Rate Used: N
Rate Explanation: No indirect costs were charged to federal programs.
The accompanying Schedule of Expenditures of Federal and State Grant Awards (the "Schedule") includes the federal and state grant activity of Nurture The Next (the "Organization"). The information in the 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") and the State of Tennessee. 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, changes in net assets, or cash flows of the Organization.
Title: Reconciliation to Statement of Financial Position and Statement of Activities and Changes in Net Assets
Accounting Policies: For purposes of the Schedule, expenditures of federal and state grant awards are recognized on the 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.
The Organization did not receive or expend any Federal or State awards during fiscal year 2024 in the form of non-cash assistance or provide any funds to subrecipients.
The Organization elected to not use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The expenditure threshold for classification as a Type A program is $750,000.
De Minimis Rate Used: N
Rate Explanation: No indirect costs were charged to federal programs.
See the Notes to the SEFA for table