Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are determined using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: For grants awarded before October 1,2024, Fletcher Group, Inc. used the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. For grants awarded on or after October 1, 2024 Fletcher Group, Inc used a de minimis rate of 15%
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of Fletcher Group, Inc. 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of Fletcher Group, Inc., it is not intended to and does not present the financial position, changes in assets or cash flows of Fletcher Group, Inc.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are determined using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: For grants awarded before October 1,2024, Fletcher Group, Inc. used the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. For grants awarded on or after October 1, 2024 Fletcher Group, Inc used a de minimis rate of 15%
Expenditures reported on the Schedule are determined using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: AGENCY OR PASS-THROUGH NUMBERS
Accounting Policies: Expenditures reported on the Schedule are determined using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: For grants awarded before October 1,2024, Fletcher Group, Inc. used the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. For grants awarded on or after October 1, 2024 Fletcher Group, Inc used a de minimis rate of 15%
These numbers have been provided to assist administering agencies in the identification of the various awards.
Title: INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are determined using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: For grants awarded before October 1,2024, Fletcher Group, Inc. used the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. For grants awarded on or after October 1, 2024 Fletcher Group, Inc used a de minimis rate of 15%
For grants awarded before October 1,2024, Fletcher Group, Inc. used the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. For grants awarded on or after October 1, 2024 Fletcher Group, Inc used a de minimis rate of 15%
Title: SUBSEQUENT EVENTS
Accounting Policies: Expenditures reported on the Schedule are determined using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: For grants awarded before October 1,2024, Fletcher Group, Inc. used the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. For grants awarded on or after October 1, 2024 Fletcher Group, Inc used a de minimis rate of 15%
All subsequent events relative to the major programs were evaluated through July 14, 2025, the date the accompanying reports were available to be issued.