Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of California Manufacturing Technology Consulting (CMTC) under programs of the federal government for the year ended September 30, 2024. The information in the 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 CMTC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CMTC.
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.
During fiscal year 2024, CMTC reported Subrecipient Non-Federal Match expenses from various entities. The match was submitted to CMTC through Subaward Agreements to facilitate training, outreach, and the adoption of advanced manufacturing technologies and techniques to California manufacturers and their workforce. The match was not provided from federal sources and may include the direct cost of services provided by state and local programs. The match is not included either in the consolidated financial statements or the Schedule of Expenditures of Federal Awards.
For the years ended September 30, 2024 and 2023, CMTC received an approved rate of 12.6% and 12.15% from the Department of Commerce, respectively. The indirect cost rate has a carryforward provision that requires CMTC to reconcile future indirect cost rate calculations with any over- or under-charge of indirect costs.
Current NIST guidance and regulations specify that unexpended program income (UPI), as defined, shall be used by CMTC to provide services to CMTC’s clients as the non-federal portion of the annual operating budget. CMTC calculated and reported $134,802 and $0 in cumulative UPI as of September 30, 2024 and 2023, respectively. CMTC will utilize the UPI in future periods in accordance with the NIST Standard Terms and Conditions.