Notes to SEFA
Title: 1. Basis of Presentation
Accounting Policies: Accrual basis accounting
De Minimis Rate Used: N
Rate Explanation: CFNI did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) for the year ended June 30, 2023 includes the federal grant activity of Community Foundation of Northwest Indiana, Inc. (CFNI) and is presented on the accrual basis of accounting. The information in the 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 (the Uniform Guidance), and therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, CFNI’s consolidated financial statements.
Title: 2. Indirect Cost Rate
Accounting Policies: Accrual basis accounting
De Minimis Rate Used: N
Rate Explanation: CFNI did not use the de minimis cost rate.
CFNI did not use the de minimis cost rate.
Title: 3. Consolidated Reporting
Accounting Policies: Accrual basis accounting
De Minimis Rate Used: N
Rate Explanation: CFNI did not use the de minimis cost rate.
The federal award activity of the entities below is included in the accompanying Schedule for the year ended June 30, 2023. See the Notes to the SEFA for the chart/table.
Title: 4. Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution (PRF)
Accounting Policies: Accrual basis accounting
De Minimis Rate Used: N
Rate Explanation: CFNI did not use the de minimis cost rate.
In accordance with the requirements specific to Assistance Listing No. 93.498, Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution (PRF), the amount presented on the accompanying Schedule for the year ended June 30, 2023 relates to activity from the period January 1, 2020 through June 30, 2023 for PRF payments received from July 1, 2021 through June 30, 2022. This activity period, payment receipt period and the resulting amount presented reconcile to the PRF information previously reported to the Health Resources and Services Administration (HRSA) for the PRF Reporting Period 4 and 5, as follows: See the Notes to the SEFA for the chart/table. The expenses attributable to Coronavirus Disease 2019 (COVID-19) and lost revenues incurred by CFNI during the period of availability for PRF Reporting Periods 4 and 5 (January 1, 2020 through June 30, 2023) are in excess of the general and targeted distributions received from July 1, 2021 through June 30, 2022 and, therefore, the amounts presented in the tables above and on the accompanying Schedule are limited to the amount of such distributions. See the Notes to the SEFA for the chart/table.