Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Expenditures on the Schedule are presented using the accrual basis of accounting, which is described in Note 1 to New Hampshire Humanities' financial statements. Such expenditures are recognized following the cost prinicples contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not claim indirect costs associated with the federal awards.
The accompanying Schedule of Expenditures of Federal Awards includes the federal award activity of New Hampshire Humanities under programs of the federal government for the 16 month period ended October 31, 2023. The information in this Schedule is presented 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. Because the Schedule presents only a selected portion of the operations of New Hampshire Humanities, it is not intended to and does not present the financial position, changes in net assets, or cash flows of New Hampshire Humanities.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: Expenditures on the Schedule are presented using the accrual basis of accounting, which is described in Note 1 to New Hampshire Humanities' financial statements. Such expenditures are recognized following the cost prinicples contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not claim indirect costs associated with the federal awards.
Expenditures on the Schedule are presented using the accrual basis of accounting, which is described in Note 1 to New Hampshire Humanities' financial statements. Such expenditures are recognized following the cost prinicples contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
Title: Note 3 - Indirect Cost
Accounting Policies: Expenditures on the Schedule are presented using the accrual basis of accounting, which is described in Note 1 to New Hampshire Humanities' financial statements. Such expenditures are recognized following the cost prinicples contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not claim indirect costs associated with the federal awards.
New Hampshire Humanities has not elected to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.