Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying Schedule of Expenditures of Federal and State Awards includes the Federal and State grant activity of the Network under the programs of the Federal government and the State of North Carolina for the year 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 (“the Uniform Guidance”). Because the schedule presents only a selected portion of the operations of the Network, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Network.
De Minimis Rate Used: Y
Rate Explanation: The Network has elected to use the 10% de minimus indirect cost rate as allowed under Uniform Guidance.
The accompanying Schedule of Expenditures of Federal and State Awards includes the Federal and State grant activity of the Network under the programs of the Federal government and the State of North Carolina for the year 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 (“the Uniform Guidance”). Because the schedule presents only a selected portion of the operations of the Network, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Network.
Title: INDIRECT COST RATE
Accounting Policies: The accompanying Schedule of Expenditures of Federal and State Awards includes the Federal and State grant activity of the Network under the programs of the Federal government and the State of North Carolina for the year 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 (“the Uniform Guidance”). Because the schedule presents only a selected portion of the operations of the Network, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Network.
De Minimis Rate Used: Y
Rate Explanation: The Network has elected to use the 10% de minimus indirect cost rate as allowed under Uniform Guidance.
The Network has elected to use the 10% de minimus indirect cost rate as allowed under Uniform Guidance.