Notes to SEFA
Title: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards was prepared 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). The purpose of this schedule is to present information related to expenditures of Syntiro (the Organization) under programs of the federal government for the year ended June 30, 2024. The Organizations federal awards are received indirectly through pass-through organizations. The accompanying schedule of expenditures of federal awards was prepared using the accrual method of accounting. Expenses are recognized as incurred using the cost accounting principles contained in the Uniform Guidance. Under those cost principles, certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the Organization did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect costs applied to awards for the year ended June 30, 2024 were in accordance with negotiated rates with the State of Maine Department Education and the University of Maine, Farmington, the pass-through entities for the Organization’s federal grant awards.
Of the federal expenditures presented in the schedule of expenditures of federal awards, the Organization did not provide federal awards to subrecipients.