Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: 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. Negative amounts shown on the Schedule represent adjustments or credits
made in the normal course of business to amounts reported as expenditures in prior years. ACYPL has elected not to use the de minimis indirect cost rate as allowed under Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal grant activity of ACYPL 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 ACYPL, it is not intended to and does not present the financial position, change in net assets or cash flows of ACYPL.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: 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. Negative amounts shown on the Schedule represent adjustments or credits
made in the normal course of business to amounts reported as expenditures in prior years. ACYPL has elected not to use the de minimis indirect cost rate as allowed under 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. ACYPL has elected not to use the de minimis indirect cost rate as allowed under Uniform
Guidance.