Notes to SEFA
Accounting Policies: (1) Basis of PresentationThe accompanying Schedule of Expenditures of Federal and State Grant Awards (the "Schedule")includes the federal and state grant activity of Nurture The Next (the "Organization"). Theinformation in the Schedule is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards ("Uniform Guidance") and the State of Tennessee.Because the Schedule presents only a selected portion of the operations of the Organization, it isnot intended to and does not present the financial position, changes in net assets, or cash flowsof the Organization.(2) Summary of Significant Accounting PoliciesFor purposes of the Schedule, expenditures of federal and state grant awards are recognized onthe accrual basis of accounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are not allowable orare limited as to reimbursement.The Organization did not receive or expend any Federal or State awards during fiscal year 2022 inthe form of non-cash assistance or provide any funds to subrecipients.The expenditure threshold for classification as a Type A program is $750,000.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.