Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes all federal award activity of Cultivate Initiatives (the Organization) and is presented using the accrual basis of accounting in accordance with accounting principles generally
accepted in the United States of America. 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Pass-through entity identifying numbers are presented when available.
Expenditures - Expenditures reported on the Schedule 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.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes all federal award activity of Cultivate Initiatives (the Organization) and is presented using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.
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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Pass-through entity identifying numbers are presented when available.
Title: Expenditures
Accounting Policies: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes all federal award activity of Cultivate Initiatives (the Organization) and is presented using the accrual basis of accounting in accordance with accounting principles generally
accepted in the United States of America. 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Pass-through entity identifying numbers are presented when available.
Expenditures - Expenditures reported on the Schedule 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.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Expenditures reported on the Schedule 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.