Title: 1. GENERAL
Accounting Policies: General
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of Taller Educativo de Caguas, Inc. (TEC). All federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies to the organization are included in the accompanying schedule.
(2) Basis of Accounting
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Requirements for Federal Awards (Uniform Guidance), Audits of States, Local Governments, and Non-Profit Organizations.
(3) Relationship to Federal Financial Reports
Amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with the amounts reported in the related federal financial reports. However, certain federal financial reports are filed based on cash expenditures. As such, certain timing differences may exist in the recognition of revenue and expenditures between the schedule of Expenditures of Federal Awards and the federal financial reports.
(4) Federal CFDA Number
The Catalog of Federal Domestic Assistance (CFDA) number is a program identification number. The first two digits identify the federal department or agency that administers the program and the last three numbers are assigned by numerical sequence accordingly with the program name within the corresponding agency.
The CFDA numbers included in this report were determined based on the program name, review of grant contract information, and the Office of Management and Budget’s Catalog of Federal Domestic Assistance.(5) Pass-Through Grantor’s Number
State or local government and private entities includes within their federal proposal award the related amount of federal awards granted to the Organization, also known as “pass-through awards”. The organization should consider these federal funds as though they were received directly from the federal government. Uniform Guidance requires that the schedule should include the name and the identifying number assigned for federal awards received as a sub recipient. Numbers identified as NA are not applicable or not available.
(6) Relationship to the Statements of Revenues and Expenses and Changes in Retained Earnings
The reconciliation of expenses in the Statements of Revenues and Expenses and Changes in Retained Earnings of to the total expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards is as follows:
Expenses per Statement of Revenues and Expenses and Changes in Retained Earnings $1,429,768
Less: Non-Federal Expenditures and Depreciation in Federal Programs 27,684
Plus: Federal Expended Capitalized -0-
Total Expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards $ 1,402,084
(7) Indirect Cost Rate
(TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
De Minimis Rate Used: N
Rate Explanation: (TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of Taller Educativo de Caguas, Inc. (TEC). All federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies to the organization are included in the accompanying schedule.
Title: 2.BASIS OF ACCOUNTING
Accounting Policies: General
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of Taller Educativo de Caguas, Inc. (TEC). All federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies to the organization are included in the accompanying schedule.
(2) Basis of Accounting
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Requirements for Federal Awards (Uniform Guidance), Audits of States, Local Governments, and Non-Profit Organizations.
(3) Relationship to Federal Financial Reports
Amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with the amounts reported in the related federal financial reports. However, certain federal financial reports are filed based on cash expenditures. As such, certain timing differences may exist in the recognition of revenue and expenditures between the schedule of Expenditures of Federal Awards and the federal financial reports.
(4) Federal CFDA Number
The Catalog of Federal Domestic Assistance (CFDA) number is a program identification number. The first two digits identify the federal department or agency that administers the program and the last three numbers are assigned by numerical sequence accordingly with the program name within the corresponding agency.
The CFDA numbers included in this report were determined based on the program name, review of grant contract information, and the Office of Management and Budget’s Catalog of Federal Domestic Assistance.(5) Pass-Through Grantor’s Number
State or local government and private entities includes within their federal proposal award the related amount of federal awards granted to the Organization, also known as “pass-through awards”. The organization should consider these federal funds as though they were received directly from the federal government. Uniform Guidance requires that the schedule should include the name and the identifying number assigned for federal awards received as a sub recipient. Numbers identified as NA are not applicable or not available.
(6) Relationship to the Statements of Revenues and Expenses and Changes in Retained Earnings
The reconciliation of expenses in the Statements of Revenues and Expenses and Changes in Retained Earnings of to the total expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards is as follows:
Expenses per Statement of Revenues and Expenses and Changes in Retained Earnings $1,429,768
Less: Non-Federal Expenditures and Depreciation in Federal Programs 27,684
Plus: Federal Expended Capitalized -0-
Total Expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards $ 1,402,084
(7) Indirect Cost Rate
(TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
De Minimis Rate Used: N
Rate Explanation: (TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Requirements for Federal Awards (Uniform Guidance), Audits of States, Local Governments, and Non-Profit Organizations.
Title: 3.RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: General
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of Taller Educativo de Caguas, Inc. (TEC). All federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies to the organization are included in the accompanying schedule.
(2) Basis of Accounting
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Requirements for Federal Awards (Uniform Guidance), Audits of States, Local Governments, and Non-Profit Organizations.
(3) Relationship to Federal Financial Reports
Amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with the amounts reported in the related federal financial reports. However, certain federal financial reports are filed based on cash expenditures. As such, certain timing differences may exist in the recognition of revenue and expenditures between the schedule of Expenditures of Federal Awards and the federal financial reports.
(4) Federal CFDA Number
The Catalog of Federal Domestic Assistance (CFDA) number is a program identification number. The first two digits identify the federal department or agency that administers the program and the last three numbers are assigned by numerical sequence accordingly with the program name within the corresponding agency.
The CFDA numbers included in this report were determined based on the program name, review of grant contract information, and the Office of Management and Budget’s Catalog of Federal Domestic Assistance.(5) Pass-Through Grantor’s Number
State or local government and private entities includes within their federal proposal award the related amount of federal awards granted to the Organization, also known as “pass-through awards”. The organization should consider these federal funds as though they were received directly from the federal government. Uniform Guidance requires that the schedule should include the name and the identifying number assigned for federal awards received as a sub recipient. Numbers identified as NA are not applicable or not available.
(6) Relationship to the Statements of Revenues and Expenses and Changes in Retained Earnings
The reconciliation of expenses in the Statements of Revenues and Expenses and Changes in Retained Earnings of to the total expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards is as follows:
Expenses per Statement of Revenues and Expenses and Changes in Retained Earnings $1,429,768
Less: Non-Federal Expenditures and Depreciation in Federal Programs 27,684
Plus: Federal Expended Capitalized -0-
Total Expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards $ 1,402,084
(7) Indirect Cost Rate
(TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
De Minimis Rate Used: N
Rate Explanation: (TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
Amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with the amounts reported in the related federal financial reports. However, certain federal financial reports are filed based on cash expenditures. As such, certain timing differences may exist in the recognition of revenue and expenditures between the schedule of Expenditures of Federal Awards and the federal financial reports.
Title: 4. FEDERAL CFDA NUMBER
Accounting Policies: General
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of Taller Educativo de Caguas, Inc. (TEC). All federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies to the organization are included in the accompanying schedule.
(2) Basis of Accounting
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Requirements for Federal Awards (Uniform Guidance), Audits of States, Local Governments, and Non-Profit Organizations.
(3) Relationship to Federal Financial Reports
Amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with the amounts reported in the related federal financial reports. However, certain federal financial reports are filed based on cash expenditures. As such, certain timing differences may exist in the recognition of revenue and expenditures between the schedule of Expenditures of Federal Awards and the federal financial reports.
(4) Federal CFDA Number
The Catalog of Federal Domestic Assistance (CFDA) number is a program identification number. The first two digits identify the federal department or agency that administers the program and the last three numbers are assigned by numerical sequence accordingly with the program name within the corresponding agency.
The CFDA numbers included in this report were determined based on the program name, review of grant contract information, and the Office of Management and Budget’s Catalog of Federal Domestic Assistance.(5) Pass-Through Grantor’s Number
State or local government and private entities includes within their federal proposal award the related amount of federal awards granted to the Organization, also known as “pass-through awards”. The organization should consider these federal funds as though they were received directly from the federal government. Uniform Guidance requires that the schedule should include the name and the identifying number assigned for federal awards received as a sub recipient. Numbers identified as NA are not applicable or not available.
(6) Relationship to the Statements of Revenues and Expenses and Changes in Retained Earnings
The reconciliation of expenses in the Statements of Revenues and Expenses and Changes in Retained Earnings of to the total expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards is as follows:
Expenses per Statement of Revenues and Expenses and Changes in Retained Earnings $1,429,768
Less: Non-Federal Expenditures and Depreciation in Federal Programs 27,684
Plus: Federal Expended Capitalized -0-
Total Expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards $ 1,402,084
(7) Indirect Cost Rate
(TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
De Minimis Rate Used: N
Rate Explanation: (TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
The Catalog of Federal Domestic Assistance (CFDA) number is a program identification number. The first two digits identify the federal department or agency that administers the program and the last three numbers are assigned by numerical sequence accordingly with the program name within the corresponding agency.
Title: 5. PASS-THROUGH GRANTORS NUMBER
Accounting Policies: General
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of Taller Educativo de Caguas, Inc. (TEC). All federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies to the organization are included in the accompanying schedule.
(2) Basis of Accounting
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Requirements for Federal Awards (Uniform Guidance), Audits of States, Local Governments, and Non-Profit Organizations.
(3) Relationship to Federal Financial Reports
Amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with the amounts reported in the related federal financial reports. However, certain federal financial reports are filed based on cash expenditures. As such, certain timing differences may exist in the recognition of revenue and expenditures between the schedule of Expenditures of Federal Awards and the federal financial reports.
(4) Federal CFDA Number
The Catalog of Federal Domestic Assistance (CFDA) number is a program identification number. The first two digits identify the federal department or agency that administers the program and the last three numbers are assigned by numerical sequence accordingly with the program name within the corresponding agency.
The CFDA numbers included in this report were determined based on the program name, review of grant contract information, and the Office of Management and Budget’s Catalog of Federal Domestic Assistance.(5) Pass-Through Grantor’s Number
State or local government and private entities includes within their federal proposal award the related amount of federal awards granted to the Organization, also known as “pass-through awards”. The organization should consider these federal funds as though they were received directly from the federal government. Uniform Guidance requires that the schedule should include the name and the identifying number assigned for federal awards received as a sub recipient. Numbers identified as NA are not applicable or not available.
(6) Relationship to the Statements of Revenues and Expenses and Changes in Retained Earnings
The reconciliation of expenses in the Statements of Revenues and Expenses and Changes in Retained Earnings of to the total expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards is as follows:
Expenses per Statement of Revenues and Expenses and Changes in Retained Earnings $1,429,768
Less: Non-Federal Expenditures and Depreciation in Federal Programs 27,684
Plus: Federal Expended Capitalized -0-
Total Expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards $ 1,402,084
(7) Indirect Cost Rate
(TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
De Minimis Rate Used: N
Rate Explanation: (TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
State or local government and private entities includes within their federal proposal award the related amount of federal awards granted to the Organization, also known as “pass-through awards”. The organization should consider these federal funds as though they were received directly from the federal government. Uniform Guidance requires that the schedule should include the name and the identifying number assigned for federal awards received as a sub recipient. Numbers identified as NA are not applicable or not available.
Title: 6. RELATIONSHIP TO THE THE STATEMENT OF REVENUES AND EXPENSES AND CHANGES IN RETAINED EWARNINGS
Accounting Policies: General
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of Taller Educativo de Caguas, Inc. (TEC). All federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies to the organization are included in the accompanying schedule.
(2) Basis of Accounting
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Requirements for Federal Awards (Uniform Guidance), Audits of States, Local Governments, and Non-Profit Organizations.
(3) Relationship to Federal Financial Reports
Amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with the amounts reported in the related federal financial reports. However, certain federal financial reports are filed based on cash expenditures. As such, certain timing differences may exist in the recognition of revenue and expenditures between the schedule of Expenditures of Federal Awards and the federal financial reports.
(4) Federal CFDA Number
The Catalog of Federal Domestic Assistance (CFDA) number is a program identification number. The first two digits identify the federal department or agency that administers the program and the last three numbers are assigned by numerical sequence accordingly with the program name within the corresponding agency.
The CFDA numbers included in this report were determined based on the program name, review of grant contract information, and the Office of Management and Budget’s Catalog of Federal Domestic Assistance.(5) Pass-Through Grantor’s Number
State or local government and private entities includes within their federal proposal award the related amount of federal awards granted to the Organization, also known as “pass-through awards”. The organization should consider these federal funds as though they were received directly from the federal government. Uniform Guidance requires that the schedule should include the name and the identifying number assigned for federal awards received as a sub recipient. Numbers identified as NA are not applicable or not available.
(6) Relationship to the Statements of Revenues and Expenses and Changes in Retained Earnings
The reconciliation of expenses in the Statements of Revenues and Expenses and Changes in Retained Earnings of to the total expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards is as follows:
Expenses per Statement of Revenues and Expenses and Changes in Retained Earnings $1,429,768
Less: Non-Federal Expenditures and Depreciation in Federal Programs 27,684
Plus: Federal Expended Capitalized -0-
Total Expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards $ 1,402,084
(7) Indirect Cost Rate
(TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
De Minimis Rate Used: N
Rate Explanation: (TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
The reconciliation of expenses in the Statements of Revenues and Expenses and Changes in Retained Earnings of to the total expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards is as follows:
Expenses per Statement of Revenues and Expenses and Changes in Retained Earnings $1,429,768
Less: Non-Federal Expenditures and Depreciation in Federal Programs 27,684
Plus: Federal Expended Capitalized -0-
Total Expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards $ 1,402,084
Title: 7. INDIRECT COST RATE
Accounting Policies: General
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of Taller Educativo de Caguas, Inc. (TEC). All federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies to the organization are included in the accompanying schedule.
(2) Basis of Accounting
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Requirements for Federal Awards (Uniform Guidance), Audits of States, Local Governments, and Non-Profit Organizations.
(3) Relationship to Federal Financial Reports
Amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with the amounts reported in the related federal financial reports. However, certain federal financial reports are filed based on cash expenditures. As such, certain timing differences may exist in the recognition of revenue and expenditures between the schedule of Expenditures of Federal Awards and the federal financial reports.
(4) Federal CFDA Number
The Catalog of Federal Domestic Assistance (CFDA) number is a program identification number. The first two digits identify the federal department or agency that administers the program and the last three numbers are assigned by numerical sequence accordingly with the program name within the corresponding agency.
The CFDA numbers included in this report were determined based on the program name, review of grant contract information, and the Office of Management and Budget’s Catalog of Federal Domestic Assistance.(5) Pass-Through Grantor’s Number
State or local government and private entities includes within their federal proposal award the related amount of federal awards granted to the Organization, also known as “pass-through awards”. The organization should consider these federal funds as though they were received directly from the federal government. Uniform Guidance requires that the schedule should include the name and the identifying number assigned for federal awards received as a sub recipient. Numbers identified as NA are not applicable or not available.
(6) Relationship to the Statements of Revenues and Expenses and Changes in Retained Earnings
The reconciliation of expenses in the Statements of Revenues and Expenses and Changes in Retained Earnings of to the total expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards is as follows:
Expenses per Statement of Revenues and Expenses and Changes in Retained Earnings $1,429,768
Less: Non-Federal Expenditures and Depreciation in Federal Programs 27,684
Plus: Federal Expended Capitalized -0-
Total Expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards $ 1,402,084
(7) Indirect Cost Rate
(TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
De Minimis Rate Used: N
Rate Explanation: (TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
(TEC) has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.