Title: Note 1. Basis of Presentation
Accounting Policies: Note 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant
activity of Vermont Land Trust, Inc. under the programs of the federal government for the year ended June
30, 2024. The information in this schedule is presented in accordance with the requirements of the Office of
Management and Budget (OMB) Uniform Guidance. Because the Schedule presents only a selected portion
of the operations of Vermont Land Trust, Inc., it is not intended to and does not present the financial
position, results of operations or cash flows of Vermont Land Trust, Inc.
Note 2. Basis of Accounting
Expenditures reported on the Schedule are presented on the same basis of accounting as Vermont Land
Trust, Inc.’s financial statements. Vermont Land Trust, Inc. uses the accrual basis of accounting.
Expenditures represent only the federally funded portions of the program. Therefore, some amounts
presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic
financial statements.
Note 3. Program Costs/Matching Contributions
The amounts shown as current year expenditures represent only the federal grant portion of the program
costs. Entire program costs are more than shown. Such expenditures are recognized following, as
applicable, either the cost principles in the OMB Circular A-122, Cost Principles for Non-Profit Organizations,
or 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, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
Note 4. Major Programs
In accordance with the OMB Uniform Guidance, major programs are determined using a risk-based
approach. The programs in the accompanying Schedule of findings and questioned costs is determined by
the independent auditor to be a major program.
Note 5. Indirect Cost Rate
Vermont Land Trust, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform
Guidance, section 414.
De Minimis Rate Used: Y
Rate Explanation: Note 5. Indirect Cost Rate
Vermont Land Trust, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform
Guidance, section 414.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant
activity of Vermont Land Trust, Inc. under the programs of the federal government for the year ended June
30, 2024. The information in this schedule is presented in accordance with the requirements of the Office of
Management and Budget (OMB) Uniform Guidance. Because the Schedule presents only a selected portion
of the operations of Vermont Land Trust, Inc., it is not intended to and does not present the financial
position, results of operations or cash flows of Vermont Land Trust, Inc.
Title: Note 2. Basis of Accounting
Accounting Policies: Note 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant
activity of Vermont Land Trust, Inc. under the programs of the federal government for the year ended June
30, 2024. The information in this schedule is presented in accordance with the requirements of the Office of
Management and Budget (OMB) Uniform Guidance. Because the Schedule presents only a selected portion
of the operations of Vermont Land Trust, Inc., it is not intended to and does not present the financial
position, results of operations or cash flows of Vermont Land Trust, Inc.
Note 2. Basis of Accounting
Expenditures reported on the Schedule are presented on the same basis of accounting as Vermont Land
Trust, Inc.’s financial statements. Vermont Land Trust, Inc. uses the accrual basis of accounting.
Expenditures represent only the federally funded portions of the program. Therefore, some amounts
presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic
financial statements.
Note 3. Program Costs/Matching Contributions
The amounts shown as current year expenditures represent only the federal grant portion of the program
costs. Entire program costs are more than shown. Such expenditures are recognized following, as
applicable, either the cost principles in the OMB Circular A-122, Cost Principles for Non-Profit Organizations,
or 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, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
Note 4. Major Programs
In accordance with the OMB Uniform Guidance, major programs are determined using a risk-based
approach. The programs in the accompanying Schedule of findings and questioned costs is determined by
the independent auditor to be a major program.
Note 5. Indirect Cost Rate
Vermont Land Trust, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform
Guidance, section 414.
De Minimis Rate Used: Y
Rate Explanation: Note 5. Indirect Cost Rate
Vermont Land Trust, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform
Guidance, section 414.
Expenditures reported on the Schedule are presented on the same basis of accounting as Vermont Land
Trust, Inc.’s financial statements. Vermont Land Trust, Inc. uses the accrual basis of accounting.
Expenditures represent only the federally funded portions of the program. Therefore, some amounts
presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic
financial statements.
Title: Note 3. Program Costs/Matching Contributions
Accounting Policies: Note 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant
activity of Vermont Land Trust, Inc. under the programs of the federal government for the year ended June
30, 2024. The information in this schedule is presented in accordance with the requirements of the Office of
Management and Budget (OMB) Uniform Guidance. Because the Schedule presents only a selected portion
of the operations of Vermont Land Trust, Inc., it is not intended to and does not present the financial
position, results of operations or cash flows of Vermont Land Trust, Inc.
Note 2. Basis of Accounting
Expenditures reported on the Schedule are presented on the same basis of accounting as Vermont Land
Trust, Inc.’s financial statements. Vermont Land Trust, Inc. uses the accrual basis of accounting.
Expenditures represent only the federally funded portions of the program. Therefore, some amounts
presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic
financial statements.
Note 3. Program Costs/Matching Contributions
The amounts shown as current year expenditures represent only the federal grant portion of the program
costs. Entire program costs are more than shown. Such expenditures are recognized following, as
applicable, either the cost principles in the OMB Circular A-122, Cost Principles for Non-Profit Organizations,
or 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, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
Note 4. Major Programs
In accordance with the OMB Uniform Guidance, major programs are determined using a risk-based
approach. The programs in the accompanying Schedule of findings and questioned costs is determined by
the independent auditor to be a major program.
Note 5. Indirect Cost Rate
Vermont Land Trust, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform
Guidance, section 414.
De Minimis Rate Used: Y
Rate Explanation: Note 5. Indirect Cost Rate
Vermont Land Trust, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform
Guidance, section 414.
The amounts shown as current year expenditures represent only the federal grant portion of the program
costs. Entire program costs are more than shown. Such expenditures are recognized following, as
applicable, either the cost principles in the OMB Circular A-122, Cost Principles for Non-Profit Organizations,
or 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, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
Title: Note 4. Major Programs
Accounting Policies: Note 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant
activity of Vermont Land Trust, Inc. under the programs of the federal government for the year ended June
30, 2024. The information in this schedule is presented in accordance with the requirements of the Office of
Management and Budget (OMB) Uniform Guidance. Because the Schedule presents only a selected portion
of the operations of Vermont Land Trust, Inc., it is not intended to and does not present the financial
position, results of operations or cash flows of Vermont Land Trust, Inc.
Note 2. Basis of Accounting
Expenditures reported on the Schedule are presented on the same basis of accounting as Vermont Land
Trust, Inc.’s financial statements. Vermont Land Trust, Inc. uses the accrual basis of accounting.
Expenditures represent only the federally funded portions of the program. Therefore, some amounts
presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic
financial statements.
Note 3. Program Costs/Matching Contributions
The amounts shown as current year expenditures represent only the federal grant portion of the program
costs. Entire program costs are more than shown. Such expenditures are recognized following, as
applicable, either the cost principles in the OMB Circular A-122, Cost Principles for Non-Profit Organizations,
or 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, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
Note 4. Major Programs
In accordance with the OMB Uniform Guidance, major programs are determined using a risk-based
approach. The programs in the accompanying Schedule of findings and questioned costs is determined by
the independent auditor to be a major program.
Note 5. Indirect Cost Rate
Vermont Land Trust, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform
Guidance, section 414.
De Minimis Rate Used: Y
Rate Explanation: Note 5. Indirect Cost Rate
Vermont Land Trust, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform
Guidance, section 414.
In accordance with the OMB Uniform Guidance, major programs are determined using a risk-based
approach. The programs in the accompanying Schedule of findings and questioned costs is determined by
the independent auditor to be a major program.
Title: Note 5. Indirect Cost Rate
Accounting Policies: Note 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant
activity of Vermont Land Trust, Inc. under the programs of the federal government for the year ended June
30, 2024. The information in this schedule is presented in accordance with the requirements of the Office of
Management and Budget (OMB) Uniform Guidance. Because the Schedule presents only a selected portion
of the operations of Vermont Land Trust, Inc., it is not intended to and does not present the financial
position, results of operations or cash flows of Vermont Land Trust, Inc.
Note 2. Basis of Accounting
Expenditures reported on the Schedule are presented on the same basis of accounting as Vermont Land
Trust, Inc.’s financial statements. Vermont Land Trust, Inc. uses the accrual basis of accounting.
Expenditures represent only the federally funded portions of the program. Therefore, some amounts
presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic
financial statements.
Note 3. Program Costs/Matching Contributions
The amounts shown as current year expenditures represent only the federal grant portion of the program
costs. Entire program costs are more than shown. Such expenditures are recognized following, as
applicable, either the cost principles in the OMB Circular A-122, Cost Principles for Non-Profit Organizations,
or 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, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
Note 4. Major Programs
In accordance with the OMB Uniform Guidance, major programs are determined using a risk-based
approach. The programs in the accompanying Schedule of findings and questioned costs is determined by
the independent auditor to be a major program.
Note 5. Indirect Cost Rate
Vermont Land Trust, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform
Guidance, section 414.
De Minimis Rate Used: Y
Rate Explanation: Note 5. Indirect Cost Rate
Vermont Land Trust, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform
Guidance, section 414.
Vermont Land Trust, Inc. has elected to use the 10% de minimis indirect cost rate as allowed in the Uniform
Guidance, section 414.