Title: 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
All Federal grant operations of Neighbor to Family, Inc. (NTF) are included in the scope of
the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Single
Audit or Uniform Guidance). The Single Audit was performed in accordance with the
provisions of the OMB Compliance Supplement (the Compliance Supplement). Compliance
testing of all requirements, as described in the Compliance Supplement, was performed for
the major grant program noted below. The programs on the accompanying schedule of
expenditures of Federal awards represent all Federal award programs and other grants with
fiscal year 2024 cash or non-cash expenditure activities. For our Single Audit testing, we
tested the Federal award program with 2024 cash and non-cash expenditures to ensure
coverage of at least 20% of Federally granted funds. Our actual coverage was 36%.
Expenditures reported on the schedule of expenditures of Federal awards (the Schedule) are
recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. NTF has elected
not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
All Federal grant operations of Neighbor to Family, Inc. (NTF) are included in the scope of
the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Single
Audit or Uniform Guidance). The Single Audit was performed in accordance with the
provisions of the OMB Compliance Supplement (the Compliance Supplement). Compliance
testing of all requirements, as described in the Compliance Supplement, was performed for
the major grant program noted below. The programs on the accompanying schedule of
expenditures of Federal awards represent all Federal award programs and other grants with
fiscal year 2024 cash or non-cash expenditure activities. For our Single Audit testing, we
tested the Federal award program with 2024 cash and non-cash expenditures to ensure
coverage of at least 20% of Federally granted funds. Our actual coverage was 36%.
Expenditures reported on the schedule of expenditures of Federal awards (the Schedule) are
recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. NTF has elected
not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: 2. BASIS OF PRESENTATION
Accounting Policies: 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
All Federal grant operations of Neighbor to Family, Inc. (NTF) are included in the scope of
the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Single
Audit or Uniform Guidance). The Single Audit was performed in accordance with the
provisions of the OMB Compliance Supplement (the Compliance Supplement). Compliance
testing of all requirements, as described in the Compliance Supplement, was performed for
the major grant program noted below. The programs on the accompanying schedule of
expenditures of Federal awards represent all Federal award programs and other grants with
fiscal year 2024 cash or non-cash expenditure activities. For our Single Audit testing, we
tested the Federal award program with 2024 cash and non-cash expenditures to ensure
coverage of at least 20% of Federally granted funds. Our actual coverage was 36%.
Expenditures reported on the schedule of expenditures of Federal awards (the Schedule) are
recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. NTF has elected
not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule includes the Federal award activity of NTF under programs of
the Federal government for the year ended June 30, 2024 and is recorded on the accrual basis
of accounting. The information in this Schedule is presented in accordance with the
requirements of the Uniform Guidance.
Title: 3. RECONCILIATION OF FEDERAL AWARDS TO THE FINANCIAL STATEMENTS
Accounting Policies: 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
All Federal grant operations of Neighbor to Family, Inc. (NTF) are included in the scope of
the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Single
Audit or Uniform Guidance). The Single Audit was performed in accordance with the
provisions of the OMB Compliance Supplement (the Compliance Supplement). Compliance
testing of all requirements, as described in the Compliance Supplement, was performed for
the major grant program noted below. The programs on the accompanying schedule of
expenditures of Federal awards represent all Federal award programs and other grants with
fiscal year 2024 cash or non-cash expenditure activities. For our Single Audit testing, we
tested the Federal award program with 2024 cash and non-cash expenditures to ensure
coverage of at least 20% of Federally granted funds. Our actual coverage was 36%.
Expenditures reported on the schedule of expenditures of Federal awards (the Schedule) are
recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. NTF has elected
not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The following schedule is a reconciliation of the total expenditures as shown on the Schedule
and the service revenue reported on the Statement of Activities and Changes in Net Position
for the year ended June 30, 2024, which is included as part of NTF’s financial statements.
Schedule of Expenditures of Federal Awards $ 3,101,337
Plus: State contracts 6,088,016
Service Revenue per Audited Financial Statements $ 9,189,353