Notes to SEFA
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the Schedule) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Vermont Associates for Training & Development, Inc. d/b/a Associates for Training and Development has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule of Expenditures of Federal Awards (the Schedule) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the Schedule) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Vermont Associates for Training & Development, Inc. d/b/a Associates for Training and Development has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Vermont Associates for Training & Development, Inc. d/b/a Associates for Training and Development has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the Schedule) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Vermont Associates for Training & Development, Inc. d/b/a Associates for Training and Development has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule includes the federal award activity of Vermont Associates for Training & Development, Inc. d/b/a Associates for Training and Development for the year ended June 30, 2023. The information in the Schedule is presented in accordance with the requirements of the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of Vermont Associates for Training & Development, Inc. d/b/a Associates for Training and Development, it is not intended to and does not present the financial position, changes in net assets or cash flows of Vermont Associates for Training & Development, Inc. d/b/a Associates for Training and Development.