Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Alaska Council of School Administrators, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect rates are negotiated with the pass-through entity.
De Minimis Rate Used: N
Rate Explanation: . Alaska Council of School Administrators, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect rates are negotiated with the pass-through entity.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Alaska Council of School Administrators, Inc. under programs of the federal government for the six month period ended June 30, 2024. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Alaska Council of School Administrators, Inc., it is not intended to and does not present the basic financial statements of Alaska Council of School Administrators, Inc.
Title: Note 2. Passed Through Awards
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Alaska Council of School Administrators, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect rates are negotiated with the pass-through entity.
De Minimis Rate Used: N
Rate Explanation: . Alaska Council of School Administrators, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect rates are negotiated with the pass-through entity.
No amounts were passed through to sub-recipients.
Title: Note 3. Reconciliation to Financial Statements:
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Alaska Council of School Administrators, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect rates are negotiated with the pass-through entity.
De Minimis Rate Used: N
Rate Explanation: . Alaska Council of School Administrators, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect rates are negotiated with the pass-through entity.
Expended from Schedule of Expenditures of Federal Awards $ 3,550,240
Grants or contracts from other funding sources 28,889
Total grant and contract revenue in the Financial Statements $ 3,579,129