Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accounting principles generally acceptedin the United States of America basis of accounting. Such expenditures are recognized followingthe cost principles contained in the Uniform Guidance, wherein certain types of expenditures arenot allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Nashville CARES has elected not to use the 10-percent de minimis indirect cost rate allowed underthe Uniform Guidance.
The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Nashville CARES under programs of the federal government for the year ended June 30, 2022. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the Audit Manual issued by the Comptroller of the Treasury of the State of Tennessee. Because the Schedule presents only a selected portion of the operations of Nashville CARES, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Nashville CARES