Notes to SEFA
Title: Basis of Presentation:
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Workforce Development Board SDA‐83, Inc. and is presented on the accrual basis of accounting, which is the same basis of accounting used for the presentation of the financial statements.
De Minimis Rate Used: Both
Rate Explanation: Workforce Development Board SDA-83, Inc. has elected not to use the 10% de minimis cost rate as allowed under Uniform Guidance, except for the Workforce Opportunity for Rural Communities Grant.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Workforce Development Board SDA‐83, Inc. and is presented on the accrual basis of accounting, which is the same basis of accounting used for the presentation of the financial statements. The information in this 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. Workforce Development Board SDA‐83, Inc. has elected not to use the 10% de minimis cost rate as allowed under the Uniform Guidance, except for the Workforce Opportunity for Rural Communities Grant. Workforce Development Board SDA‐83, Inc. did not expend any federal awards in the form of noncash assistance during the fiscal year.