Notes to SEFA
The accompanying schedules of expenditures of federal and state awards include the grant activity of the Greater Nashville Regional Council (“GNRC”) under programs of the federal and state governments for the year ended June 30, 2025. The information in these schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards (Uniform Guidance) and State of Tennessee. Because the schedules present only a selected portion of the operations of GNRC, they are not intended to and do not present the financial position or changes in net position of GNRC.
Expenditures reported on the schedules 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 schedules represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass through to subrecipients include amounts collected by GNRC and subsequently remitted to the subrecipient. Payments to subrecipient are recorded on the accrual basis of accounting.
GNRC has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.