Notes to SEFA
Title: General
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basisof accounting, which is described in Note 2 to the Foundations financial statements for the yearended August 31, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of the federal financial awards program of New Orleans Jazz & Heritage Festival and Foundation, Inc. (the Foundation). 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). The Foundations reporting entity is defined in Note 1 to the financial statements for the year ended August 31, 2022. All Federal financial awards have been included on the Schedule.