Title: GENERAL
Accounting Policies: Expenditures presented on the Schedule are reported on the cash basis of accounting. Expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The Office has elected not to use the 10% minimum cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the funds expended by the Socioeconomic and Community Development Office (Office) from all federal programs for the year ended June 30, 2024. The Office’s reporting entity is defined in Note 1 to the financial statement.
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures presented on the Schedule are reported on the cash basis of accounting. Expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The Office has elected not to use the 10% minimum cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
The accompanying Schedule of Expenditures of Federal Awards is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and was prepared following the cash basis of accounting.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures presented on the Schedule are reported on the cash basis of accounting. Expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The Office has elected not to use the 10% minimum cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
Expenditures presented on the Schedule are reported on the cash basis of accounting. Expenditures 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.
Title: FEDERAL ASSISTANCE LISTING NUMBER AND PASS-THROUGH ENTITY IDENTIFYNG NUMBER
Accounting Policies: Expenditures presented on the Schedule are reported on the cash basis of accounting. Expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The Office has elected not to use the 10% minimum cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
The Assistance Listing Number (ALN), formerly known as the Catalog of Federal Domestic Assistance (CFDA) Number, is a five-digit number assigned in the awarding document for all federal assistance award mechanisms, including federal grants and cooperative agreements. Assistance listings are detailed public descriptions of federal programs that provide grants, loans, scholarships, insurance, and other types of assistance awards. The Sam.gov assistance listing is the publicly available online database showing all available Federally-funded programs. State or local government redistributions of federal awards to the Office, known as “pass–through awards”, should be treated by the Office as though they were received directly from the federal government. The Uniform Guidance requires the Schedule to include the name of the pass–through entity and the identifying number assigned by the pass-through entity for the federal awards received as a sub recipient. Numbers identified as N/A are not applicable and numbers identified as N/AV are not available.
Title: INDIRECT COST RATE
Accounting Policies: Expenditures presented on the Schedule are reported on the cash basis of accounting. Expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The Office has elected not to use the 10% minimum cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
The Office has elected not to use the 10% minimum cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
Title: RECONCILIATION TO THE FINANCIAL STATEMENT
Accounting Policies: Expenditures presented on the Schedule are reported on the cash basis of accounting. Expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The Office has elected not to use the 10% minimum cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
Information reported in the accompanying Schedule of Expenditures of Federal Awards agreed with or has been reconciled to the information reported in the Office’s statement of Cash Receipt and Cash Disbursements – Governmental Funds:
Title: SUB-RECIPIENTS
Accounting Policies: Expenditures presented on the Schedule are reported on the cash basis of accounting. Expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The Office has elected not to use the 10% minimum cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
The schedule of federal expenditures includes federal awards to sub-recipients as follows: