Notes to SEFA
Title: FOUND SOUND NATION
Accounting Policies: INFORMATION IS PRESENTED IN ACCORDANCE WITH REQUIREMENTS OF TITLE 2 US CODE OF FEDERAL REGULATIONS PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUIDANCE). EXPENDITRES REPORTED ON THE SCHEUDLE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES FOR NON-PROFIT ORGANIZATIONS, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate 10% AS ALLOWED UNDER UNIFORM GUIDANCE.
ONE BEAT IS AN INITIATIVE OF THE US DEPARTMENT OF STATE ECA. THE ORGANIZATION REPORTS ITS ONE BEAT RECEIPTS AND EXPENDITURES TO THE DEPARTMENT OF STATE ECA ON A SEMIANNUAL BASIS.
Title: SUMMER INSTITUTE
Accounting Policies: INFORMATION IS PRESENTED IN ACCORDANCE WITH REQUIREMENTS OF TITLE 2 US CODE OF FEDERAL REGULATIONS PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUIDANCE). EXPENDITRES REPORTED ON THE SCHEUDLE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES FOR NON-PROFIT ORGANIZATIONS, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate 10% AS ALLOWED UNDER UNIFORM GUIDANCE.
EXPENSES ON THE SUMMER INSTITUTE PROJECT EXCEED THE AWARD AMOUNTS. THE EXCESS IS PAID FOR BY CONTRIBUTIONS FROM FOUNDATIONS AND INDIVIDUALS AND TUITION FEES.
Title: CORONA VIRUS AID, RELIEF AND ECONOMIC SECURITY ACT
Accounting Policies: INFORMATION IS PRESENTED IN ACCORDANCE WITH REQUIREMENTS OF TITLE 2 US CODE OF FEDERAL REGULATIONS PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUIDANCE). EXPENDITRES REPORTED ON THE SCHEUDLE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES FOR NON-PROFIT ORGANIZATIONS, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate 10% AS ALLOWED UNDER UNIFORM GUIDANCE.
BANG ON A CAN RECEIVED ADDITIONAL FUNDS FROM NATIONAL ENDOWMENT OF THE ARTS FOR CORONA VIRUS AID. ALL THE MONEY WAS SPENT ON QUALIFYING EXPENSES.