The accompanying schedule of expenditures of federal award (the “Schedule”) includes the federal awards activity of Administrative Office of The Catholic Diocese of Caguas (hereinafter Organization), under programs of the federal government for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of the 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
1. The Schedule is prepared from the Organization’s accounting records and is not intended to present its financial position or the results of its operations. 2. The financial transactions are recorded by the Organization in accordance with the terms and conditions of the grants, which are consistent with accounting principles generally accepted in the United States of America. 3. Expenditures are recognized in the accounting period in which the liability is incurred, if measurable or when actually paid, whichever occurs first.
Major program is identified in the summary of auditors’ results section in the Schedule of Findings and Questioned Costs. Federal program is presented by federal agency.
The dollar threshold for Type A and Type B programs amounted to $750,000.
The information included in the Schedule may not fully agree with other federal awards reports, submitted directly to federal grantor agency because, among other reasons, the award report may (a) be prepared for a different fiscal period and (b) include cumulative data (from prior years) rather than data from the current year only.
The Assistance Listing Number is a program identification number presented for programs in which such numbers are available. The first two digits identify the federal department or agency that administers the program, and the last three numbers are assigned by numerical sequence.
The organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
In-kind and matching expenses are non-federal share of certain program costs, therefore are not included in the accompanying Schedule.
Reconciliation of total federal awards expenditures per Schedule of Expenditures of Federal Awards and Statement of Activities is as follows:
The Organization is a subrecipient of a state governmental agency that is identified in the Schedule. Under pass-through awards, a subrecipient is a nonfederal entity that receives a subaward from a pass-through entity to carry out part of a federal program but does not include an individual that is a beneficiary of such program. State and local government redistributions of federal awards to the Institution, known as subawards, are treated by the Institution as though they were received directly from the federal government. That is, federal awards expended as a subrecipient are subject to a single audit on the same basis as that of federal awards that are received directly. The Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) requires the Schedule to include the name of the pass-through entity and identifying number assigned by the pass-through entity for federal awards received as a subrecipient. Pass-through entity numbers identified in the Schedule as “N/AV” are not available.
For the year ended June 30, 2024, the Organization did not provide federal awards to any subrecipients