Notes to SEFA
Title: 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 Title 2 U.S.
Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein
certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: NCAIED has elected not to use the 10 percent de minimis indirect cost rate allowed
under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes
the federal grant activity of the National Center for American Indian Enterprise
Development (NCAIED) under programs of the federal government for the year ended
June 30, 2024. Because the schedule presents only a selected portion of the operations of
NCAIED, it is not intended to and does not present the financial position, changes in net
assets, or cash flows of NCAIED.
Title: Summary of Significant Accounting Policies
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 Title 2 U.S.
Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein
certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: NCAIED has elected not to use the 10 percent de minimis indirect cost rate allowed
under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in Title 2 U.S.
Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein
certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented where available.
Title: Indirect Cost Rate
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 Title 2 U.S.
Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein
certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: NCAIED has elected not to use the 10 percent de minimis indirect cost rate allowed
under the Uniform Guidance.
NCAIED has elected not to use the 10 percent de minimis indirect cost rate allowed
under the Uniform Guidance.
Title: Other Disclosures
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 Title 2 U.S.
Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein
certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: NCAIED has elected not to use the 10 percent de minimis indirect cost rate allowed
under the Uniform Guidance.
NCAIED did not receive any non-cash assistance, there was no insurance in effect during
the year, and no federal loan guarantees are outstanding at year-end.