Notes to SEFA
Title: Property and Equipment
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance whereincertain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CSTB elected to account for indirect costs utilizing the cost allocation method, using modified total direct costs as the base, for the fiscal year ending June 30, 2022.
Property and equipment of approximately $92,000 was purchased using federal grant awards duringfiscal year ending June 30, 2022. These amounts are included in the Schedule but excluded from thestatement of activities as the amount has been capitalized for financial statement purposes and recordedas property and equipment on the statement of position.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance whereincertain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CSTB elected to account for indirect costs utilizing the cost allocation method, using modified total direct costs as the base, for the fiscal year ending June 30, 2022.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grantactivity of CSTB under programs of the federal government passed through the Department ofEconomic Opportunity for the year ended June 30, 2022. The information in this schedule is presentedin accordance with the requirements of the Uniform Guidance. Because the schedule presents only aselected portion of the operations of CSTB, it is not intended to and does not present the financialposition, changes in net assets or cash flows of CSTB.