Title: Note 1: Basis of Presentation
Accounting Policies: 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 allowable or are limited as to reimbursement.
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 of expenditures of federal and state awards includes the federal and state grant activity of the North East Texas Workforce Development Board DBA Workforce Solutions Northeast Texas (a nonprofit organization)(the Organization) under programs of the federal and state government for the year ended September 30, 2024. The information in this schedule is 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 (the Uniform Guidance) and the State of Texas Single Audit Circular. Because the schedule presents only a portion of the operations of the Organization, it is not intended to, and does not present the financial position, changes in net assets or cash flows of the Organization.
Title: NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: 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 allowable or are limited as to reimbursement.
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.
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 allowable or are limited as to reimbursement.
Title: NOTE 3: SUBRECIPIENTS
Accounting Policies: 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 allowable or are limited as to reimbursement.
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.
A portion of the federal and state expenditures presented in these schedules was provided to subrecipients by the organization. That portion has been identified in a separate column on the schedule of expenditures of federal and state awards.
Title: NOTE 4: RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: 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 allowable or are limited as to reimbursement.
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.
Amounts reported in the accompanying schedule may not agree with the amounts reported in the related federal financial reports filed with the grantor agencies because of accruals made in the schedule which will be included in future reports filed with those agencies.
Title: NOTE 5: INDIRECT COSTS
Accounting Policies: 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 allowable or are limited as to reimbursement.
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 organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE 6: RECONCILIATION TO FINANCIAL STATEMENTS
Accounting Policies: 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 allowable or are limited as to reimbursement.
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.
Total Federal Expenditures $17,704,539
Total State Expenditires 1,384,235
Vendor Contracts/Funds Without Donor Restrictions 546,310
Expenditures Paid Program Income/Match 144,715
Total Expenditures $19,779,799