Notes to SEFA
Accounting Policies: 1. BASIS OF PRESENTATIONThe Schedule of Expenditures of Federal Awards (the Schedule) includes the federal awardactivity of NIEA 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 Title2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, someamounts presented in this Schedule may differ from amounts presented in, or used in thepreparation of, the basic financial statements. Because the Schedule presents only a selectedportion of the operations of NIEA, it is not intended to and does not present the financial position,changes in net assets or cash flows of NIEA.2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESAll of NIEA s federal awards were in form of cash assistance for the year ended December 31,2022.NIEA had no federally funded insurance programs or loan guarantees during the year endedDecember 31, 2022.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures arenot allowable or are limited as to reimbursement.There are no subrecipient expenditures.NIEA has elected to use the 10% de minimus cost rate as allowed under the Uniform Guidance.3. RECONCILIATION WITH AUDITED FINANCIAL STATEMENTSThe following summary reconciles total federal awards with the audited financial statements forthe year ended December 31, 2022:$ 1,718,917-$ 1,718,917Total Federal awards per the schedule of expenditures offeAddedra: l naowna-rFdesderal awards contained in the audited financialstatementsTotal grants and contrats revenue per audited financial statements
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.