Notes to SEFA
Title: Subrecipients:
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant. Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following, as applicable, either 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 (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited
as to reimbursement.
activity of the University of North Florida Training and Services Institute, Inc. (“the Institute”) 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 (CRF) 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
Institute, it is not intended to and does not present the financial position, changes in net assets, or cash flows
of the Institute.
De Minimis Rate Used: N
Rate Explanation: The Institute has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
During the year ended June 30, 2023, the Institute provided no federal awards to subrecipients.
Title: Contingency:
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant. Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following, as applicable, either 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 (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited
as to reimbursement.
activity of the University of North Florida Training and Services Institute, Inc. (“the Institute”) 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 (CRF) 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
Institute, it is not intended to and does not present the financial position, changes in net assets, or cash flows
of the Institute.
De Minimis Rate Used: N
Rate Explanation: The Institute has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
Project expenditures are subject to audit and adjustment. If any expenditures were to be disallowed by the
grantor agency as a result of such an audit, any claim for reimbursement to the grantor agency would
become a liability of the Institute. In the opinion of management, all project expenditures included on the
accompanying schedule are in compliance with the terms of the project agreements and applicable federal
and state laws and regulations.