Title: NOTE A - GENERAL
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the amount of federal grants expended by Region 10 League for Economic Assistance and Planning, Inc., during the year ended June 30, 2024. The information in the 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. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in, the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards includes the amount of federal grants expended by Region 10 League for Economic Assistance and Planning, Inc., during the year ended June 30, 2024. The information in the 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. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in, the preparation of the financial statements
Title: NOTE B - BASIS OF ACCOUNTING
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the amount of federal grants expended by Region 10 League for Economic Assistance and Planning, Inc., during the year ended June 30, 2024. The information in the 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. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in, the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting
Title: NOTE C -INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the amount of federal grants expended by Region 10 League for Economic Assistance and Planning, Inc., during the year ended June 30, 2024. The information in the 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. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in, the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: N/A
Region 10 has elected to use the 10% de minimis rate for selected grants including SBA, USDA, EDA (CARES), and RSVP.
Title: NOTED-·LOAN GUARANTEE PROGRAM
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the amount of federal grants expended by Region 10 League for Economic Assistance and Planning, Inc., during the year ended June 30, 2024. The information in the 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. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in, the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: N/A
As of June 30, 2024, the Organization had loans outstanding with the SBA Microloan program of $1516397