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. The Organization’s summary of
significant accounting policies is presented in Note 2 to the Financial Statements
De Minimis Rate Used: N
Rate Explanation: For purposes of charging indirect costs to federal awards, the Organization has not elected to use the 10%
de minimis cost rate as permitted by §200.414 of the Uniform Guidance.
The Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of
The RIDGE Project, Inc. and related entities (collectively, the “Organization”) under programs of the
federal government for the year ended June 30, 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 position, 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. The Organization’s summary of
significant accounting policies is presented in Note 2 to the Financial Statements
De Minimis Rate Used: N
Rate Explanation: For purposes of charging indirect costs to federal awards, the Organization has not elected to use the 10%
de minimis cost rate as permitted by §200.414 of 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. The Organization’s summary of
significant accounting policies is presented in Note 2 to the Financial Statements.
Title: Note 3 - Indirect Cost Rate
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. The Organization’s summary of
significant accounting policies is presented in Note 2 to the Financial Statements
De Minimis Rate Used: N
Rate Explanation: For purposes of charging indirect costs to federal awards, the Organization has not elected to use the 10%
de minimis cost rate as permitted by §200.414 of the Uniform Guidance.
For purposes of charging indirect costs to federal awards, the Organization has not elected to use the 10%
de minimis cost rate as permitted by §200.414 of the Uniform Guidance
Title: Note 4 - 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. The Organization’s summary of
significant accounting policies is presented in Note 2 to the Financial Statements
De Minimis Rate Used: N
Rate Explanation: For purposes of charging indirect costs to federal awards, the Organization has not elected to use the 10%
de minimis cost rate as permitted by §200.414 of the Uniform Guidance.
The Organization provided federal awards to subrecipients during the fiscal year ended June 30, 2024.
Amounts passed through to subrecipients are identified in the “Subawards” column of the Schedule of
Expenditures of Federal Awards. The total amount passed through to subrecipients was $445,307 for the
year ended June 30, 2024.
Title: Note 5 - 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. The Organization’s summary of
significant accounting policies is presented in Note 2 to the Financial Statements
De Minimis Rate Used: N
Rate Explanation: For purposes of charging indirect costs to federal awards, the Organization has not elected to use the 10%
de minimis cost rate as permitted by §200.414 of the Uniform Guidance.
Federal expenditures of $3,934,150 from the June 30, 2024 Schedule of Expenditures of Federal Awards
reconcile to federal grant revenues of $3,934,150, which are classified as federal contracts and grants on
the financial statements of the Organization of the same year.