Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR 230, Cost Principles for Non-profit AMSIs, wherein certain types of expenditures are not allowable or are limited as to reimbursement.The Federal Assistance Listing Number is the program identification number. The first two digits identify the federal department or agency that administers the program and the last three numbers are assigned by numerical sequence. The Uniform Guidance requires the Schedule to include the name of the “pass-through entity” and the identifying number assigned by the “pass through entity” for the federal awards received as a sub-recipient. Numbers identified as N/A are not applicable and numbers identified as N/AV are not available.
De Minimis Rate Used: Y
Rate Explanation: The AMSI has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the AMSI under programs of the federal government for the year ended June 30, 2024 and 2023. The information in this schedule is presented in accordance with the requirements of 2 CFR, Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the AMSI, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the AMSI. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the financial statements.
Title: PASS-THROUGH ENTITY IDENTIFYING NUMBER
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR 230, Cost Principles for Non-profit AMSIs, wherein certain types of expenditures are not allowable or are limited as to reimbursement.The Federal Assistance Listing Number is the program identification number. The first two digits identify the federal department or agency that administers the program and the last three numbers are assigned by numerical sequence. The Uniform Guidance requires the Schedule to include the name of the “pass-through entity” and the identifying number assigned by the “pass through entity” for the federal awards received as a sub-recipient. Numbers identified as N/A are not applicable and numbers identified as N/AV are not available.
De Minimis Rate Used: Y
Rate Explanation: The AMSI has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
State or local government redistributions of federal awards to AMSI, known as pass–through awards, should be treated by AMSI as though they were received directly from the federal government. The Uniform Guidance requires the schedule to include the name of the pass–through entity and the identifying number assigned by the pass-through entity for the federal awards received as a sub-recipient. Pass-through entity identifying numbers are presented when available. Numbers identified as N/A are not applicable and numbers identified as N/AV are not available.
Title: PROGRAM CLUSTERS
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR 230, Cost Principles for Non-profit AMSIs, wherein certain types of expenditures are not allowable or are limited as to reimbursement.The Federal Assistance Listing Number is the program identification number. The first two digits identify the federal department or agency that administers the program and the last three numbers are assigned by numerical sequence. The Uniform Guidance requires the Schedule to include the name of the “pass-through entity” and the identifying number assigned by the “pass through entity” for the federal awards received as a sub-recipient. Numbers identified as N/A are not applicable and numbers identified as N/AV are not available.
De Minimis Rate Used: Y
Rate Explanation: The AMSI has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
The Uniform Guidance defines a cluster of programs as a grouping of closely related programs that share common compliance requirements. According to this definition, the U.S. Office of Management and Budget has identified the WIOA Program as a cluster.
Title: RELATIONSHIP TO FINANCIAL STATEMENTS
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR 230, Cost Principles for Non-profit AMSIs, wherein certain types of expenditures are not allowable or are limited as to reimbursement.The Federal Assistance Listing Number is the program identification number. The first two digits identify the federal department or agency that administers the program and the last three numbers are assigned by numerical sequence. The Uniform Guidance requires the Schedule to include the name of the “pass-through entity” and the identifying number assigned by the “pass through entity” for the federal awards received as a sub-recipient. Numbers identified as N/A are not applicable and numbers identified as N/AV are not available.
De Minimis Rate Used: Y
Rate Explanation: The AMSI has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
The reconciliation of expenses per financial statements to the Schedule of Expenditures of Federal Awards (SEFA) is as follows:
Amount
Total expenses per SEFA $ 12,884,370
Less: Capital expenditures (Federal Funds) (209,724)
Plus: Depreciation 149,310
Bad debts 20,887
Loss on disposition of assets 83,033
Nonfederal expenditures 7,046,900
Expenditures per Schedule of Expenditures of Federal Awards $ 19,974,776