Notes to SEFA
Title: Basis of presentation
Accounting Policies: Expenditures reported on the schedule of expenditures of Federal awards are reported on the accrual basis of accounting. Such expenditures follow
the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: TECH CORPS Ohio has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The schedule of expenditures of Federal awards includes the Federal award activity of TECH CORPS Ohio 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 (Uniform Guidance). Because the schedule of expenditures of Federal awards presents only a selected portion of the operations of TECH CORPS Ohios, it is not intended to and does not present the financial position, changes in net assets, or cash flows of TECH CORPS Ohio.
Title: Non-cash assistance
Accounting Policies: Expenditures reported on the schedule of expenditures of Federal awards are reported on the accrual basis of accounting. Such expenditures follow
the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: TECH CORPS Ohio has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
TECH CORPS Ohio did not receive any donations of personal protective equipment.