Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented when applicable and available.
De Minimis Rate Used: N
Rate Explanation: ASPIRA has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the ASPIRA Inc. of Illinois (“ASPIRA”) under programs of the federal government for the year ended June 30, 2024. 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”). Because the Schedule presents only a selected portion of the operations of ASPIRA, it is not intended to and does not present the financial position, changes in net assets, or cash flows of ASPIRA.
Title: INSURANCE
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented when applicable and available.
De Minimis Rate Used: N
Rate Explanation: ASPIRA has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.
Insurance coverage for the year ended June 30, 2024 was as follows: Commercial General Liability:
Each occurrence $1,000,000
Damage to rented $300,000
Med exp $15,000
Personal & Adv Injury $1,000,000
General & Aggregate $2,000,000
Products – Comp/OP AGG $2,000,000
D&O/EPLI/FID $2,000,000
Cyber Liability $2,000,000 Automobile:
Combined single unit $1,000,000 Excess/Umbrella:
Each occurrence $10,000,000
Aggregate $10,000,000 Workers’ compensation and employer’s liability:
Workers’ compensation Statutory limits
Employer’s liability – each accident $1,000,000
Employer’s liability – disease each employee $1,000,000
Employer’s liability – disease policy limit $1,000,000
Title: NON-CASH ASSISTANCE
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented when applicable and available.
De Minimis Rate Used: N
Rate Explanation: ASPIRA has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.
There were no non-cash federal awards in the form of commodities during the year ended June 30, 2024.
Title: FEDERAL AWARDS IN THE FORM OF LOANS / LOAN GUARANTEES / INTEREST SUBSIDIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented when applicable and available.
De Minimis Rate Used: N
Rate Explanation: ASPIRA has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.
There were no federal awards expended in the form of loans, loan guarantees, or interest subsidies at June 30, 2024.