Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Volunteers of America Minnesota and Wisconsin has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Volunteers of America Minnesota and Wisconsin under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Volunteers of America Minnesota and Wisconsin, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Volunteers of America Minnesota and Wisconsin.
Title: COMMINGLED FUNDS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Volunteers of America Minnesota and Wisconsin has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The following programs, while primarily federally funded, include state funding and, therefore, all expenditures have been included in the Schedule of Expenditures of Federal Awards. The Organization did not receive information to determine the exact federal portion of the following total expenditures:
CFDA #93.045 $1,123,598
Special Programs for the Aging – Title III Part C Nutrition Services