Title: Note A
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Allowed under Uniform Guidance
Basis of Presentation - The accompanying schedule of expenditures of federal awards includes the federal grant activity of North Carolina Humanities Council and is presented on the cash basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 of U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Note B
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Allowed under Uniform Guidance
Summary of Significant Accounting Principles - Expenditures reported in the schedule of expenditures of federal awards are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note C
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Allowed under Uniform Guidance
Subrecipient Awards - The Council obligated $482,421 from SO283085-22 Regular Award of National Endowment for the Humanities funds, CFDA #45.129, for subrecipient awards during the year. The Council had $220,864 subrecipient awards payable from SO-283085-22 Regular Award, $25,000 subrecipient awards payable from SSO-296240-23 UWS Award, and $2,000 subrecipient awards payable from SSO-296-250-23 NHD Award for a total of $247,864
Title: Note D
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Allowed under Uniform Guidance
Carryover of unexpended amounts = The Council had $291,026 of unexpended federal funds related to the funding year ended October 31, 2023 and $1,114,501 of unexpended federal funds related to the funding year ended October 31, 2024, for grant number SO-283085-22, for which the award period ends October 31, 2026. The Council also had $25,000 of unexpected federal funds related to the funding year October 31, 2023 and $61 of unexpendied federal funds related to the funding year October 31, 2024, for grant number SSO-296240-23 UWS, for which the period ends October 31, 2025. The Council also had $2,000 of unexpended federal funds related to the funding year October 31, 2023, for the grant number SSO-296250-23 NHD, for which the award period ends October 31, 2025.