El Grito, Inc. is a nonprofit entity that operates solely on grant monies. We strive to maintain a financial management system supported by policies and procedures to ensure compliance with post-award requirements. El Grito, Inc.’s internal control systems provide reasonable assurance that grant awards are managed in compliance with federal statutes, regulations, terms and conditions of the award. We have set internal control systems designed to safeguard assets from unauthorized use, detect and prevent errors and irregularities, achieve reliability of financial reporting and compliance with applicable laws and regulations. Financial statements are prepared according to generally accepted accounting principles (GAAP). The Agency has received unqualified audit reports with no significant findings for the past two years and beyond.
The accounting department is comprised of three individuals, the Chief Financial Officer, whose role it is to oversee the department, the Administrative Assistant and a contracted Accountant.
The Management team and accounting personnel are familiar with the allowability of costs provision 2 CFR Part 200.400-475 Cost Principles. Only costs reasonable to the performance of the Federal award are allowable. Costs are considered reasonable if the nature and amount of the cost does not exceed that which would be incurred by a prudent person under the same circumstances. Costs are allocable to the federal grant if the cost is incurred specifically for that federal award. If a cost benefits both the federal award and another fund the cost is allocated in reasonable proportion to the benefits received.