Notes to SEFA
Title: Note 3 – Contributed Services
Accounting Policies: Note 1 – Summary of Significant Accounting Policies
The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal awards activity of the Alliance under programs of the federal government for the year ended June 30, 2023. 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 Alliance, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Alliance. Expenditures reported on the Schedule are reported 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.
De Minimis Rate Used: N
Rate Explanation: Note 2 – Indirect Cost Rate
The Alliance has elected not to use the ten percent de minimis indirect cost rate as allowed under the Uniform Guidance.
In addition to amounts reported on the Schedule, the Alliance received noncash assistance in the form of contributed services. Contributed services with a fair value of $910,058 at the time received, were provided during the year ended June 30, 2023, as more fully explained in Note 8 to the financial statements. These services provided went toward meeting the matching requirement under the federal grant.
Title: Note 4 – Commitments and Contingencies
Accounting Policies: Note 1 – Summary of Significant Accounting Policies
The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal awards activity of the Alliance under programs of the federal government for the year ended June 30, 2023. 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 Alliance, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Alliance. Expenditures reported on the Schedule are reported 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.
De Minimis Rate Used: N
Rate Explanation: Note 2 – Indirect Cost Rate
The Alliance has elected not to use the ten percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Alliance participates in federal grant programs, which are governed by various rules and regulations of the grantor agency. Costs charged to the respective grant programs are subject to audit and adjustment by the grantor agency; therefore, to the extent the Alliance has not complied with the rules and regulations governing the grants, refunds of any money received may be required.