Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Piedmont Environmental Council 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of The Piedmont Environmental Council, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of The Piedmont Environmental Council. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Piedmont Environmental Council does not have a negotiated indirect cost rate. Entities that do not have a negotiated rate can elect to use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance. The Piedmont Environmental Council is not using the 15 percent de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Piedmont Environmental Council 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of The Piedmont Environmental Council, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of The Piedmont Environmental Council.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Piedmont Environmental Council 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of The Piedmont Environmental Council, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of The Piedmont Environmental Council. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Piedmont Environmental Council does not have a negotiated indirect cost rate. Entities that do not have a negotiated rate can elect to use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance. The Piedmont Environmental Council is not using the 15 percent de minimis indirect cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Piedmont Environmental Council 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of The Piedmont Environmental Council, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of The Piedmont Environmental Council. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Piedmont Environmental Council does not have a negotiated indirect cost rate. Entities that do not have a negotiated rate can elect to use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance. The Piedmont Environmental Council is not using the 15 percent de minimis indirect cost rate.
The Piedmont Environmental Council does not have a negotiated indirect cost rate. Entities that do not have a negotiated rate can elect to use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance. The Piedmont Environmental Council is not using the 15 percent de minimis indirect cost rate.
Title: Reconciliation of Schedule of Expenditures of Federal Awards to the Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Piedmont Environmental Council 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of The Piedmont Environmental Council, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of The Piedmont Environmental Council. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Piedmont Environmental Council does not have a negotiated indirect cost rate. Entities that do not have a negotiated rate can elect to use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance. The Piedmont Environmental Council is not using the 15 percent de minimis indirect cost rate.
See table in the Notes to the Schedule of Expenditures of Federal Awards