Title: Note A General Information
Accounting Policies: The accompanying schedule of expenditures of federal and city awards (the Schedule) presents all federal and city awards required to be reported, by funding agency, received by The Pennsylvania Horticultural Society for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of the Title 2 US Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). All awards recevied directly from federal agencies, as well as federal awards passed through other governmental agencies or not for profit organizations, are included. Such pass-through awards recevied from the CIty of Philadlephia are subject to the City of Philadelphia Subrecipient Audit Guide. The information has been subjected to the auditing
procedures applied in the audits of the consolidated financial statements and certain additional procedures. These additional procedures included comparing and
reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements themselves, and other
additional procedures in accordance with US GAAS.
De Minimis Rate Used: N
Rate Explanation: The accompanying schedule is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and other allowable cost standards, wherein certain types of expenditures and not allowable or are limited as to reimbursement. The Pennsylvania Horticultural Society has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal and city awards (the Schedule) presents all federal and city awards required to be reported, by funding agency, received by The Pennsylvania Horticultural Society for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). All other received from the City of Philadelphia are subject to the City of Philadelphia Subrecipient Audit Guide. As governmental agencies or not-for-profit organizations, are included. flows of The Pennsylvania Horticultural Society. of June 30, 2024, there are no amounts passed through to subrecipients from the Society. Because the Schedule presents only a selected portion of the operations of The Pennsylvania Horticultural Society, it is not intended to and does not present the financial position, changes in net assets, or cash flows of The Pennsylvania Horticultural Society.
Title: Note B Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal and city awards (the Schedule) presents all federal and city awards required to be reported, by funding agency, received by The Pennsylvania Horticultural Society for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of the Title 2 US Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). All awards recevied directly from federal agencies, as well as federal awards passed through other governmental agencies or not for profit organizations, are included. Such pass-through awards recevied from the CIty of Philadlephia are subject to the City of Philadelphia Subrecipient Audit Guide. The information has been subjected to the auditing
procedures applied in the audits of the consolidated financial statements and certain additional procedures. These additional procedures included comparing and
reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements themselves, and other
additional procedures in accordance with US GAAS.
De Minimis Rate Used: N
Rate Explanation: The accompanying schedule is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and other allowable cost standards, wherein certain types of expenditures and not allowable or are limited as to reimbursement. The Pennsylvania Horticultural Society has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and other allowable cost standards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Pennsylvania Horticultural Society has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note C Relationship to Basic Consolidated Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal and city awards (the Schedule) presents all federal and city awards required to be reported, by funding agency, received by The Pennsylvania Horticultural Society for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of the Title 2 US Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). All awards recevied directly from federal agencies, as well as federal awards passed through other governmental agencies or not for profit organizations, are included. Such pass-through awards recevied from the CIty of Philadlephia are subject to the City of Philadelphia Subrecipient Audit Guide. The information has been subjected to the auditing
procedures applied in the audits of the consolidated financial statements and certain additional procedures. These additional procedures included comparing and
reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements themselves, and other
additional procedures in accordance with US GAAS.
De Minimis Rate Used: N
Rate Explanation: The accompanying schedule is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and other allowable cost standards, wherein certain types of expenditures and not allowable or are limited as to reimbursement. The Pennsylvania Horticultural Society has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Federal and city expenditures are reported in the consolidated statement of activities as expenses. The expenditures reported in the consolidated financial statements differ from the expenditures reported in the Schedule because not all expenditures are required to be reported in the Schedule.