Notes to SEFA
Title: SUBRECIPIENTS AND PASS-THROUGH AWARDS
Accounting Policies: BASIS OF PRESENTATIONThe schedule of expenditures of federal awards (the Schedule) includes federal grant activity of Tides Center, Tides Foundation, Tides Network, Tides, Inc., and Tides Two Rivers Fund (collectively, Tides Organizations) under programs of the federal government for the year ended December 31, 2022. 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 Tides Organization, it is not intended to and does not present the consolidated financial position, results of operations, changes in net assets, or cash flows of Tides Organizations.Tides Center and Tides Foundation were the only component of Tides Organizations that received and expended federal grants as disclosed in the Schedule.Basis of AccountingExpenditures 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. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: INDIRECT RATETides Organizations elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Certain funds may be passed through to subrecipient organizations by Tides Organizations. Expenditures incurred by the subrecipients, and reimbursed by Tides Organizations, are included in the Schedule. Tides Organizations are also the subrecipient of federal funds, which are reported as expenditures and listed separately as federal pass-through funds.
Title: RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: BASIS OF PRESENTATIONThe schedule of expenditures of federal awards (the Schedule) includes federal grant activity of Tides Center, Tides Foundation, Tides Network, Tides, Inc., and Tides Two Rivers Fund (collectively, Tides Organizations) under programs of the federal government for the year ended December 31, 2022. 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 Tides Organization, it is not intended to and does not present the consolidated financial position, results of operations, changes in net assets, or cash flows of Tides Organizations.Tides Center and Tides Foundation were the only component of Tides Organizations that received and expended federal grants as disclosed in the Schedule.Basis of AccountingExpenditures 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. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: INDIRECT RATETides Organizations elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The regulations and guidelines governing the preparation of federal financial reports vary by agency and among programs administered by the same agency. Accordingly, the amounts reported in the federal financial reports do not necessarily agree with the amounts reported in the accompanying Schedule, which is prepared as explained in Note 1 above.