Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the cash and accrual basis of accounting as noted therin. 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, if any, 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: The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of WorkforceConnections (the Organization) under programs of the federal government for the year ended June 30, 2023. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to, and does not, present the financial position, changes in net position, or cash flows of the Organization.