Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal and State Awards (the Schedule) includes the federal and state grant activity of Elevate, Inc. under programs of the federal and state government for the year ended December 31, 2022. The information on this Schedule is prepared 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) and in accordance with the State Single Audit Guidelines.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. The Organization has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Commingled Funds
Accounting Policies: The accompanying Schedule of Expenditures of Federal and State Awards (the Schedule) includes the federal and state grant activity of Elevate, Inc. under programs of the federal and state government for the year ended December 31, 2022. The information on this Schedule is prepared 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) and in accordance with the State Single Audit Guidelines.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
During the year ended December 31, 2022, funds totaling $1,062,633 were received from Sheboygan County. While the grant agreement indicates that the source of the funds included both federal (CFDA 93.778, 93.667, 93.558, 93.958, and 93.959) and state awards (contract 435.377, 435.516, and 435.561), Sheboygan County has not provided the Organization with the amount of federal funds included. Because the split between federal and state funding is unknown, the full amount is included in the accompanying schedule of expenditures of federal awards under CFDA 93.778.
Title: Non-Cash Assistance, Loans and Insurance
Accounting Policies: The accompanying Schedule of Expenditures of Federal and State Awards (the Schedule) includes the federal and state grant activity of Elevate, Inc. under programs of the federal and state government for the year ended December 31, 2022. The information on this Schedule is prepared 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) and in accordance with the State Single Audit Guidelines.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Elevate, Inc. did not receive any federal non-cash assistance, federal loans or federal insurance for the year ended December 31, 2022.
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal and State Awards (the Schedule) includes the federal and state grant activity of Elevate, Inc. under programs of the federal and state government for the year ended December 31, 2022. The information on this Schedule is prepared 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) and in accordance with the State Single Audit Guidelines.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Elevate, Inc. did not provide federal awards to subrecipients during the year ended December 31, 2022.