Title: Note 1 – Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Ho’ōla Nā Pua 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 Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected 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.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance, 2 CFR §200.414(f)). The de minimis rate is applied to Modified Total Direct Costs (MTDC) as defined in 2 CFR §200.68.
This rate is used consistently across all applicable federal awards for which indirect costs are allowed, and the Organization has not previously received a negotiated indirect cost rate from a federal agency.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Ho’ōla Nā Pua 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 Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected 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: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Ho’ōla Nā Pua 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 Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected 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.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance, 2 CFR §200.414(f)). The de minimis rate is applied to Modified Total Direct Costs (MTDC) as defined in 2 CFR §200.68.
This rate is used consistently across all applicable federal awards for which indirect costs are allowed, and the Organization has not previously received a negotiated indirect cost rate from a federal agency.
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 – Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Ho’ōla Nā Pua 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 Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected 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.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance, 2 CFR §200.414(f)). The de minimis rate is applied to Modified Total Direct Costs (MTDC) as defined in 2 CFR §200.68.
This rate is used consistently across all applicable federal awards for which indirect costs are allowed, and the Organization has not previously received a negotiated indirect cost rate from a federal agency.
The Organization has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance, 2 CFR §200.414(f)). The de minimis rate is applied to Modified Total Direct Costs (MTDC) as defined in 2 CFR §200.68.
This rate is used consistently across all applicable federal awards for which indirect costs are allowed, and the Organization has not previously received a negotiated indirect cost rate from a federal agency.