Notes to SEFA
Title: NOTE A - FEDERAL AWARDS
Accounting Policies: The schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Expenditures are recorded for program activities and capital purchases in accordance with the terms of the applicable award. Revenues are recognized to the extent of expenditures incurred in the consolidated financial statements of the ABA.
De Minimis Rate Used: N
Rate Explanation: The ABA utilizes a negotiated indirect cost rate of 16.25%.
The American Bar Association (the ABA) received federal and state funding through grants and contracts with certain federal and state agencies and subawards with various other agencies. The accompanying schedule of expenditures of federal awards includes federal grant activity of the ABA. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements. The ABA has not elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Title: NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Expenditures are recorded for program activities and capital purchases in accordance with the terms of the applicable award. Revenues are recognized to the extent of expenditures incurred in the consolidated financial statements of the ABA.
De Minimis Rate Used: N
Rate Explanation: The ABA utilizes a negotiated indirect cost rate of 16.25%.
The schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Expenditures are recorded for program activities and capital purchases in accordance with the terms of the applicable award. Revenues are recognized to the extent of expenditures incurred in the consolidated financial statements of the ABA.
Title: NOTE C - NON-CASH ASSISTANCE
Accounting Policies: The schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Expenditures are recorded for program activities and capital purchases in accordance with the terms of the applicable award. Revenues are recognized to the extent of expenditures incurred in the consolidated financial statements of the ABA.
De Minimis Rate Used: N
Rate Explanation: The ABA utilizes a negotiated indirect cost rate of 16.25%.
The ABA did not receive any non-cash assistance from federal awards.