Notes to SEFA
Title: 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: All federal grant operations of United Planning Organization (UPO) are included in the scopeof Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (the SingleAudit) for the year ended September 30, 2024. The Single Audit was performed inaccordance with the provisions of the OMB Compliance Supplement (the ComplianceSupplement). Compliance testing of all requirements, as described in the ComplianceSupplement, was performed for the major grant programs noted below. The programs on theschedule of expenditures of federal awards (the Schedule) represent all federal awardprograms for fiscal year 2024 cash or non-cash expenditure activities. For our Single Audittesting, we tested federal award programs to ensure coverage of at least 20% of federallygranted funds. Our actual coverage was 53%.
Expenditures reported on the accompanying Schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principles contained in theSingle Audit, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Management has elected not to use the 10-percent de minimis indirect costrate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
All federal grant operations of United Planning Organization (UPO) are included in the scopeof Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (the SingleAudit) for the year ended September 30, 2024. The Single Audit was performed inaccordance with the provisions of the OMB Compliance Supplement (the ComplianceSupplement). Compliance testing of all requirements, as described in the ComplianceSupplement, was performed for the major grant programs noted below. The programs on theschedule of expenditures of federal awards (the Schedule) represent all federal awardprograms for fiscal year 2024 cash or non-cash expenditure activities. For our Single Audittesting, we tested federal award programs to ensure coverage of at least 20% of federallygranted funds. Our actual coverage was 53%.
Expenditures reported on the accompanying Schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principles contained in theSingle Audit, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Management has elected not to use the 10-percent de minimis indirect costrate as allowed under the Uniform Guidance.
Title: 2. BASIS OF PRESENTATION
Accounting Policies: All federal grant operations of United Planning Organization (UPO) are included in the scopeof Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (the SingleAudit) for the year ended September 30, 2024. The Single Audit was performed inaccordance with the provisions of the OMB Compliance Supplement (the ComplianceSupplement). Compliance testing of all requirements, as described in the ComplianceSupplement, was performed for the major grant programs noted below. The programs on theschedule of expenditures of federal awards (the Schedule) represent all federal awardprograms for fiscal year 2024 cash or non-cash expenditure activities. For our Single Audittesting, we tested federal award programs to ensure coverage of at least 20% of federallygranted funds. Our actual coverage was 53%.
Expenditures reported on the accompanying Schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principles contained in theSingle Audit, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Management has elected not to use the 10-percent de minimis indirect costrate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule includes the federal award activity of UPO under programs ofthe Federal government for the year ended September 30, 2024. The information in thisSchedule is presented in accordance with the requirements of the Single Audit. Because theSchedule presents only a selected portion of the operations of UPO, it is not intended to anddoes not present the financial position, changes in net assets, or cash flows of UPO.