Notes to SEFA
Title: NOTE D-MAJOR PROGRAMS
Accounting Policies: NOTE A—BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Ten County Aging Board, Inc. and is presented in accordance with generally accepted accounting principles. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Expenditures represent only the federally funded portions of the program. The Organization’s records should be consulted to determine amounts expended of matched from nonfederal sources.
NOTE B—PROGRAM COSTS/MATCHING CONTRIBUTIONS: The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including the Organization’s portion, may be more than shown.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
In accordance with Uniform Guidance, major programs are determined using a risk-based approach. The Section 8 Housing Choice Vouchers Program has been determined by the independent auditor to be the major program.
Title: NOTE E-CONTINGENCIES
Accounting Policies: NOTE A—BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Ten County Aging Board, Inc. and is presented in accordance with generally accepted accounting principles. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Expenditures represent only the federally funded portions of the program. The Organization’s records should be consulted to determine amounts expended of matched from nonfederal sources.
NOTE B—PROGRAM COSTS/MATCHING CONTRIBUTIONS: The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including the Organization’s portion, may be more than shown.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
The Organization receives funds under various federal grant programs and such awards are to be expended in accordance with provisions of the various grants. Compliance with the grants is subject to audit by various government agencies, which may impose sanctions in the event of noncompliance. Management believes that they have complied with all aspects of the various grant provisions and then results of adjustments, if any, relating to such audits would not have any material financial impact.
Title: NOTE F-SUBSEQUENT INFORMATION
Accounting Policies: NOTE A—BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Ten County Aging Board, Inc. and is presented in accordance with generally accepted accounting principles. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Expenditures represent only the federally funded portions of the program. The Organization’s records should be consulted to determine amounts expended of matched from nonfederal sources.
NOTE B—PROGRAM COSTS/MATCHING CONTRIBUTIONS: The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including the Organization’s portion, may be more than shown.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
The Aging Cluster of federal financial awards was identified as a major program to be audited subsequent to the original issuance of the financial statements, which is subject to additional audit requirements. The additional audit procedures to fulfill these requirements were completed January 8, 2024.