Title: Basis of Presentation
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Central Wayne Regional Authority (the “Authority”) under programs of the federal government for the year ended December 31, 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. Therefore, some amounts in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
2. Summary of Significant Accounting Policies
Expenditures reported in the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized in accordance with the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. If applicable, negative amounts shown on the schedule of expenditures of federal awards represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
3. Federal Loans
At December 31, 2024 the Authority was indebted to the United States Department of Agriculture, Rural Utility Service for $6,584,836.
4. Indirect Cost Rate
The Authority has elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance. No indirect costs are charged to the Authority's federal program.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Central Wayne Regional Authority (the “Authority”) under programs of the federal government for the year ended December 31, 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. Therefore, some amounts in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: Summary of Significant Accounting Policies
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Central Wayne Regional Authority (the “Authority”) under programs of the federal government for the year ended December 31, 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. Therefore, some amounts in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
2. Summary of Significant Accounting Policies
Expenditures reported in the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized in accordance with the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. If applicable, negative amounts shown on the schedule of expenditures of federal awards represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
3. Federal Loans
At December 31, 2024 the Authority was indebted to the United States Department of Agriculture, Rural Utility Service for $6,584,836.
4. Indirect Cost Rate
The Authority has elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance. No indirect costs are charged to the Authority's federal program.
Expenditures reported in the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized in accordance with the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. If applicable, negative amounts shown on the schedule of expenditures of federal awards represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Federal Loans
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Central Wayne Regional Authority (the “Authority”) under programs of the federal government for the year ended December 31, 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. Therefore, some amounts in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
2. Summary of Significant Accounting Policies
Expenditures reported in the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized in accordance with the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. If applicable, negative amounts shown on the schedule of expenditures of federal awards represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
3. Federal Loans
At December 31, 2024 the Authority was indebted to the United States Department of Agriculture, Rural Utility Service for $6,584,836.
4. Indirect Cost Rate
The Authority has elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance. No indirect costs are charged to the Authority's federal program.
At December 31, 2024 the Authority was indebted to the United States Department of Agriculture, Rural Utility Service for $6,584,836.
Title: Indirect Cost Rate
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Central Wayne Regional Authority (the “Authority”) under programs of the federal government for the year ended December 31, 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. Therefore, some amounts in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
2. Summary of Significant Accounting Policies
Expenditures reported in the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized in accordance with the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. If applicable, negative amounts shown on the schedule of expenditures of federal awards represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
3. Federal Loans
At December 31, 2024 the Authority was indebted to the United States Department of Agriculture, Rural Utility Service for $6,584,836.
4. Indirect Cost Rate
The Authority has elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance. No indirect costs are charged to the Authority's federal program.
The Authority has elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.