Audit 410247

Pacific Coastal Research and Planning is a nonprofit organization formed in the Commonwealth of the Northern Mariana Islands (CNMI) on March 18, 2017. Pacific Coastal Research and Planning has been designated by the United States Department of Commerce National Oceanic & Atmospheric Administration as a sub-grantee for federal grants that further the purpose of furthering the goals of the Organization in cleaning and maintaining the shores and reefs of CNMI. Some of the projects of Pacific Coastal Research and Planning are funded either directly by U.S. Federal agencies or passed through entities and are in the scope of the Uniform Guidance audit.

The accompanying schedule of expenditures of federal awards includes the federal grant activity of Pacific Coastal Research and Planning and is presented on the accrual basis of accounting. 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 of Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.

Basis of Accounting Expenditures reported on the Schedule are reported on the accrual basis of accounting, consistent with the way Pacific Coastal Research and Planning maintains its accounting records. All expenses and capital outlay are reported as expenditures. 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 reimbursement. The pass-through entity identifying numbers are presented where available. Pacific Coastal Research and Planning recognizes contributions from the federal government when qualifying expenditures are incurred. Indirect Costs Pacific Coastal Research and Planning has elected to use indirect costs of 10% for all grants received. Matching Costs ALN 11.999 was granted by the National Fish & Wildlife Foundation, a pass-through entity. The National Fish & Wildlife Foundation required a 20% matching fund from the United States Department of Commerce. The matching fund is part of the SEFA. ALN 11.473 was granted by the National Fish & Wildlife Foundation, a pass-through entity. The National Fish & Wildlife Foundation requires a matching fund that comes from both federal and non-federal sources. Neither matching fund is part of the SEFA.