Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Kupu and its wholly-owned subsidiary, Aina & Innovation Workforce Hawaii, LLC, (collectively the Organization) under programs of the federal government for the year ended September 30, 2023. The information on this Schedule is prepared 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. A summary of the Organizations significant accounting policies consistently applied in the preparation of the accompanying Schedule of Expenditures of Federal Awards. Expenditures reported on the Schedule have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. The Organization has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. Certain Federal programs require the Organization to contribute non-Federal funds, matching funds to support the Federally funded programs. The Organization has met its matching requirements. The Schedule does not include the expenditure of non-Federal matching funds.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of The Kohala Center, Inc. and Subsidiary (the “Organization”) under programs of the federal government for the years ended June 30, 2021. The information on this Schedule is prepared 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 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: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Kupu and its wholly-owned subsidiary, Aina & Innovation Workforce Hawaii, LLC, (collectively the Organization) under programs of the federal government for the year ended September 30, 2023. The information on this Schedule is prepared 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. A summary of the Organizations significant accounting policies consistently applied in the preparation of the accompanying Schedule of Expenditures of Federal Awards. Expenditures reported on the Schedule have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. The Organization has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. Certain Federal programs require the Organization to contribute non-Federal funds, matching funds to support the Federally funded programs. The Organization has met its matching requirements. The Schedule does not include the expenditure of non-Federal matching funds.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB Circular A-122, Cost Principles for Non-Profit Organizations (codified in 2 CFR Part 230) and Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
Title: NOTE 3 – INDIRECT COST RATE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Kupu and its wholly-owned subsidiary, Aina & Innovation Workforce Hawaii, LLC, (collectively the Organization) under programs of the federal government for the year ended September 30, 2023. The information on this Schedule is prepared 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. A summary of the Organizations significant accounting policies consistently applied in the preparation of the accompanying Schedule of Expenditures of Federal Awards. Expenditures reported on the Schedule have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. The Organization has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. Certain Federal programs require the Organization to contribute non-Federal funds, matching funds to support the Federally funded programs. The Organization has met its matching requirements. The Schedule does not include the expenditure of non-Federal matching funds.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE 4 - MATCHING REQUIREMENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Kupu and its wholly-owned subsidiary, Aina & Innovation Workforce Hawaii, LLC, (collectively the Organization) under programs of the federal government for the year ended September 30, 2023. The information on this Schedule is prepared 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. A summary of the Organizations significant accounting policies consistently applied in the preparation of the accompanying Schedule of Expenditures of Federal Awards. Expenditures reported on the Schedule have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. The Organization has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. Certain Federal programs require the Organization to contribute non-Federal funds, matching funds to support the Federally funded programs. The Organization has met its matching requirements. The Schedule does not include the expenditure of non-Federal matching funds.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Certain Federal programs require the Organization to contribute non-Federal funds, matching funds to support the Federally funded programs. The Organization has met its matching requirements. The Schedule does not include the expenditure of non-Federal matching funds.
Title: NOTE 5 – MAJOR PROGRAMS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Kupu and its wholly-owned subsidiary, Aina & Innovation Workforce Hawaii, LLC, (collectively the Organization) under programs of the federal government for the year ended September 30, 2023. The information on this Schedule is prepared 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. A summary of the Organizations significant accounting policies consistently applied in the preparation of the accompanying Schedule of Expenditures of Federal Awards. Expenditures reported on the Schedule have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. The Organization has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. Certain Federal programs require the Organization to contribute non-Federal funds, matching funds to support the Federally funded programs. The Organization has met its matching requirements. The Schedule does not include the expenditure of non-Federal matching funds.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
* Denotes major program, which comprised 42% of total expenditures of federal awards.