Title: Note 1 - SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Basis of Presentation
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
1. Federal Financial Assistance – The Uniform Guidance defines federal financial assistance as assistance that non-federal entities receive or administer in the form of grants, cooperative agreements, non-cash contributions or donations of property (including donated surplus property), direct appropriations, food commodities, loans, loan guarantees, interest subsidies, insurance and other financial assistance.
2. Catalog of Federal Domestic Assistance (CFDA) Number – The Schedule presents total expenditures for each federal financial assistance program and the CFDA number assigned to the program.
3. Cluster of Programs. – A grouping of closely related programs with different CFDA numbers that share common compliance requirements is considered a cluster of programs. The Schedule presents the total federal awards expended for each cluster mandated by Office of Management and Budget in the April 2022 Compliance Supplement.
4. Direct and Pass-Through Federal Financial Assistance – The Organization receives federal financial assistance directly from federal awarding agencies or indirectly from pass-through entities. A pass-through entity (PTE) is a non-federal entity that provides a subaward to a subrecipient to carry out part of a federal program. For federal assistance that the Organization received as a subrecipient, the name of the PTE and the identifying number assigned by the PTE are identified in the Schedule.
Basis of Accounting
The Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting which is the same basis of accounting as the financial statements. Expenditures represent only the federally funded portions of the program. Organization records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: In addition to other procedures detailed in the Uniform Guidance, the Organization may elect to charge a de minimis cost rate of 10% of modified total direct costs which may be used indefinitely. The Organization has not elected to use the 10-percent de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance. Program cost is based on direct cost of expenses specifically associated with the programs.
The accompanying Schedule of Expenditures of Federal Awards is a supplementary schedule to the financial statements for the year ended December 31, 2022.
(a) Basis of Presentation
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
1. Federal Financial Assistance – The Uniform Guidance defines federal financial assistance as assistance that non-federal entities receive or administer in the form of grants, cooperative agreements, non-cash contributions or donations of property (including donated surplus property), direct appropriations, food commodities, loans, loan guarantees, interest subsidies, insurance and other financial assistance.
2. Catalog of Federal Domestic Assistance (CFDA) Number – The Schedule presents total expenditures for each federal financial assistance program and the CFDA number assigned to the program.
3. Cluster of Programs. – A grouping of closely related programs with different CFDA numbers that share common compliance requirements is considered a cluster of programs. The Schedule presents the total federal awards expended for each cluster mandated by Office of Management and Budget in the April 2022 Compliance Supplement.
4. Direct and Pass-Through Federal Financial Assistance – The Organization receives federal financial assistance directly from federal awarding agencies or indirectly from pass-through entities. A pass-through entity (PTE) is a non-federal entity that provides a subaward to a subrecipient to carry out part of a federal program. For federal assistance that the Organization received as a subrecipient, the name of the PTE and the identifying number assigned by the PTE are identified in the Schedule.
(b) Basis of Accounting
The Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting which is the same basis of accounting as the financial statements. Expenditures represent only the federally funded portions of the program. Organization records should be consulted to determine amounts expended or matched from non-federal sources.
Title: NOTE 2 - PROGRAM COSTS
Accounting Policies: Basis of Presentation
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
1. Federal Financial Assistance – The Uniform Guidance defines federal financial assistance as assistance that non-federal entities receive or administer in the form of grants, cooperative agreements, non-cash contributions or donations of property (including donated surplus property), direct appropriations, food commodities, loans, loan guarantees, interest subsidies, insurance and other financial assistance.
2. Catalog of Federal Domestic Assistance (CFDA) Number – The Schedule presents total expenditures for each federal financial assistance program and the CFDA number assigned to the program.
3. Cluster of Programs. – A grouping of closely related programs with different CFDA numbers that share common compliance requirements is considered a cluster of programs. The Schedule presents the total federal awards expended for each cluster mandated by Office of Management and Budget in the April 2022 Compliance Supplement.
4. Direct and Pass-Through Federal Financial Assistance – The Organization receives federal financial assistance directly from federal awarding agencies or indirectly from pass-through entities. A pass-through entity (PTE) is a non-federal entity that provides a subaward to a subrecipient to carry out part of a federal program. For federal assistance that the Organization received as a subrecipient, the name of the PTE and the identifying number assigned by the PTE are identified in the Schedule.
Basis of Accounting
The Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting which is the same basis of accounting as the financial statements. Expenditures represent only the federally funded portions of the program. Organization records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: In addition to other procedures detailed in the Uniform Guidance, the Organization may elect to charge a de minimis cost rate of 10% of modified total direct costs which may be used indefinitely. The Organization has not elected to use the 10-percent de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance. Program cost is based on direct cost of expenses specifically associated with the programs.
The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including the Organization’s portion, may be more than shown.
Title: NOTE 3 - INDIRECT COSTS
Accounting Policies: Basis of Presentation
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
1. Federal Financial Assistance – The Uniform Guidance defines federal financial assistance as assistance that non-federal entities receive or administer in the form of grants, cooperative agreements, non-cash contributions or donations of property (including donated surplus property), direct appropriations, food commodities, loans, loan guarantees, interest subsidies, insurance and other financial assistance.
2. Catalog of Federal Domestic Assistance (CFDA) Number – The Schedule presents total expenditures for each federal financial assistance program and the CFDA number assigned to the program.
3. Cluster of Programs. – A grouping of closely related programs with different CFDA numbers that share common compliance requirements is considered a cluster of programs. The Schedule presents the total federal awards expended for each cluster mandated by Office of Management and Budget in the April 2022 Compliance Supplement.
4. Direct and Pass-Through Federal Financial Assistance – The Organization receives federal financial assistance directly from federal awarding agencies or indirectly from pass-through entities. A pass-through entity (PTE) is a non-federal entity that provides a subaward to a subrecipient to carry out part of a federal program. For federal assistance that the Organization received as a subrecipient, the name of the PTE and the identifying number assigned by the PTE are identified in the Schedule.
Basis of Accounting
The Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting which is the same basis of accounting as the financial statements. Expenditures represent only the federally funded portions of the program. Organization records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: In addition to other procedures detailed in the Uniform Guidance, the Organization may elect to charge a de minimis cost rate of 10% of modified total direct costs which may be used indefinitely. The Organization has not elected to use the 10-percent de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance. Program cost is based on direct cost of expenses specifically associated with the programs.
In addition to other procedures detailed in the Uniform Guidance, the Organization may elect to charge a de minimis cost rate of 10% of modified total direct costs which may be used indefinitely. The Organization has not elected to use the 10-percent de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance. Program cost is based on direct cost of expenses specifically associated with the programs.