Notes to SEFA
Title: 4. MATCHING
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes federal award activity of the Organization under programs of the federal government for the year ended September 30, 2022. 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 (Uniform Guidance). Because the Schedule presents only a select portion of the operations of the Organization, it is not intended to, and does not present, the financial position, changes in net assets, or cash flows of the Organization. The Schedule has been prepared on the accrual basis of accounting, which is the method of accounting used for the combined financial statements. Such expenditures are recognized following the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule present 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: Action Inc has elected not to use the 10-percent de minimis indirect cost rate allowed by Uniform Guidance.
In accordance with the terms of the grants, Action Inc has expended matching contributions during the year ended September 30, 2022 for the following programs: DPHHS Head Start $498,495