Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by Erie Canalway Heritage Fund, Inc., which is described in Note 1 to the Corporation’s general purpose financial statements, using the accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The indirect cost rate is established by the United States Department of the Interior.
The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by Erie Canalway Heritage Fund, Inc., which is described in Note 1 to the Corporation’s general purpose financial statements, using the accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of the Uniform Guidance.
Title: SCOPE OF THE AUDIT PURSUANT TO THE UNIFORM GUIDANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by Erie Canalway Heritage Fund, Inc., which is described in Note 1 to the Corporation’s general purpose financial statements, using the accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The indirect cost rate is established by the United States Department of the Interior.
Erie Canalway Heritage Fund, Inc. is a tax-exempt organization. All federal grant operations of the Corporation are included in the scope of the Single Audit.
Title: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by Erie Canalway Heritage Fund, Inc., which is described in Note 1 to the Corporation’s general purpose financial statements, using the accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The indirect cost rate is established by the United States Department of the Interior.
Erie Canalway Heritage Fund, Inc. provided federal awards to no subrecipients.
Title: INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by Erie Canalway Heritage Fund, Inc., which is described in Note 1 to the Corporation’s general purpose financial statements, using the accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The indirect cost rate is established by the United States Department of the Interior.
The indirect cost rate is established by the United States Department of the Interior.
Title: LOANS AND LOAN GUARANTEES
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by Erie Canalway Heritage Fund, Inc., which is described in Note 1 to the Corporation’s general purpose financial statements, using the accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The indirect cost rate is established by the United States Department of the Interior.
Erie Canalway Heritage Fund, Inc., did not receive any federal assistance in the form of loans or loan guarantees.