Notes to SEFA
Title: Cost Sharing
Accounting Policies: NOTE A - BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Ohio Humanities under programs of the federal government for the fourteen-month period ended December 31, 2022. 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 for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Ohio Humanities, it is not intended to and does not present the financial position, changes in net assets or cash flows of Ohio Humanities. NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are presented 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 reported in the provided to sub-recipient column are the result of sub-recipients returning unspent grant funds back to Ohio Humanities.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Ohio Humanities is supported by annual grants from the National Endowment for the Humanities (NEH). The NEH requires a dollar-for-dollar match of its awarded funds by Ohio Humanities. The matching funds from Ohio Humanities may come from contributions, program income earned by Ohio Humanities, and the allowable costs that a sub-recipient incurs in carrying out an Ohio Humanities funded project. The COVID-19 portion of the NEH grant does not have a matching requirement.Much of Ohio Humanities cost-share support is generated from re-grant awards. For the fourteen-month period ended December 31, 2022, Ohio Humanities utilized the following amounts in cost-share support from re-grant activities:Cash contributions $ 1,748,597In-kind contributions 519,280Total cost - sharing $ 2,267,877