Title: Note 1
Accounting Policies: The purpose of the Consolidated Schedule of Expenditures of Federal Awards is to present a summary of the activities of The Ohio Manufacturers' Association and Subsidiaries for the year ended December 31, 2024, which were funded by the U.S. Government. Because the consolidated Schedule presents only a selected portion of the activities of The Ohio Manufacturers' Association and Subsidiaries, it is not intended to and does not present the financial position, results of operations or changes in net assets of The Ohio Manufacturers' Association and Subsidiaries. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the schedule above may differ from amounts presented in, or used in the preparation of, the accompanying consolidated financial statements.
De Minimis Rate Used: Y
Rate Explanation: The Ohio Manufacturers' Association and Subsidiaries has elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The purpose of the Consolidated Schedule of Expenditures of Federal Awards is to present a summary of the activities of The Ohio Manufacturers' Association and Subsidiaries for the year ended December 31, 2024, which were funded by the U.S. Government. Because the consolidated Schedule presents only a selected portion of the activities of The Ohio Manufacturers' Association and Subsidiaries, it is not intended to and does not present the financial position, results of operations or changes in net assets of The Ohio Manufacturers' Association and Subsidiaries. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the schedule above may differ from amounts presented in, or used in the preparation of, the accompanying consolidated financial statements.
Title: Note 2
Accounting Policies: The purpose of the Consolidated Schedule of Expenditures of Federal Awards is to present a summary of the activities of The Ohio Manufacturers' Association and Subsidiaries for the year ended December 31, 2024, which were funded by the U.S. Government. Because the consolidated Schedule presents only a selected portion of the activities of The Ohio Manufacturers' Association and Subsidiaries, it is not intended to and does not present the financial position, results of operations or changes in net assets of The Ohio Manufacturers' Association and Subsidiaries. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the schedule above may differ from amounts presented in, or used in the preparation of, the accompanying consolidated financial statements.
De Minimis Rate Used: Y
Rate Explanation: The Ohio Manufacturers' Association and Subsidiaries has elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The consolidated Schedule is prepared on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. CFR Part 230, Cost Principles for Non-Profit Organizations, where in certain types of expenditures are not allowed or are limited as to reimbursement.
Title: Note 3
Accounting Policies: The purpose of the Consolidated Schedule of Expenditures of Federal Awards is to present a summary of the activities of The Ohio Manufacturers' Association and Subsidiaries for the year ended December 31, 2024, which were funded by the U.S. Government. Because the consolidated Schedule presents only a selected portion of the activities of The Ohio Manufacturers' Association and Subsidiaries, it is not intended to and does not present the financial position, results of operations or changes in net assets of The Ohio Manufacturers' Association and Subsidiaries. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the schedule above may differ from amounts presented in, or used in the preparation of, the accompanying consolidated financial statements.
De Minimis Rate Used: Y
Rate Explanation: The Ohio Manufacturers' Association and Subsidiaries has elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The Ohio Manufacturers' Association and Subsidiaries has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.