Title: PA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT ASSISTANCE
Accounting Policies: BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Bucks County Opportunity Council, Inc., 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 Title 2 U.S. Code of Federal Regulations 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 Bucks County Opportunity Council, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Bucks County Opportunity Council.
BASIS OF ACCOUNTING
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.
The amounts reported in this Schedule as expenditures may differ from certain financial reports submitted to funding agencies because those reports may be submitted on either a cash or modified accrual basis of accounting.
Expenditures of federal awards are reported on the consolidated statement of activities as operating expenses. In certain programs, the expenditures reported in the basic financial statements differ from the expenditures reported in the Schedule because other program
expenditures and expenditures may exceed contract budget limitations, and are therefore not included as expenditures of federal awards.
Federal funding is included in the government line item on the consolidated statement of activities.
De Minimis Rate Used: N
Rate Explanation: Bucks County Opportunity Council, Inc. has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Assistance received on a cash basis from the PA Department of Community and Economic Development is as follows:
FUNDING PROGRAM -- CONTRACT NUMBER -- RECEIPTS
Weatherization - Department of Energy, BIL -- C000082812 -- $ 6,337
Weatherization - Department of Energy -- C000082812 -- 333,534
Weatherization - Department of Energy, Readiness -- C000082812 -- 24,590
Weatherization - LIHEAP and LIHEAP Crisis -- C000073867 -- 314,073
Weatherization - LIHEAP Deferral -- C000073867 -- 36,679
Weatherization - LIHEAP Cooling -- C000073867 -- 138,458
ARPA; Weatherization - LIHEAP Clean and Tune -- C000073867 -- 45,008
ARPA; Weatherization - LIHEAP -- C000073867 -- 481,693
CSBG Contract - CARES -- C000066967 -- 163,243
CSBG Contract -- C000082253 -- 858,336
CSBG Contract -- C000082253 -- 175,800
CSBG Contract - Discretionary -- C000082253 -- 77,838
Total -- $ 2,655,589
Title: OTHER INFORMATION
Accounting Policies: BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Bucks County Opportunity Council, Inc., 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 Title 2 U.S. Code of Federal Regulations 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 Bucks County Opportunity Council, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Bucks County Opportunity Council.
BASIS OF ACCOUNTING
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.
The amounts reported in this Schedule as expenditures may differ from certain financial reports submitted to funding agencies because those reports may be submitted on either a cash or modified accrual basis of accounting.
Expenditures of federal awards are reported on the consolidated statement of activities as operating expenses. In certain programs, the expenditures reported in the basic financial statements differ from the expenditures reported in the Schedule because other program
expenditures and expenditures may exceed contract budget limitations, and are therefore not included as expenditures of federal awards.
Federal funding is included in the government line item on the consolidated statement of activities.
De Minimis Rate Used: N
Rate Explanation: Bucks County Opportunity Council, Inc. has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Pass-through entity identifying numbers are presented where available. There are no federal funds passed through to subrecipients during the fiscal year.