Notes to SEFA
Title: Note 2
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting. Revenues were adjusted to balance expenditures incurred for each project.
De Minimis Rate Used: N
Rate Explanation: The Corporation has not elected to charge a de-minimis indirect cost rate of 10%, as permitted by the Uniform Guidance.
An extensive compliance test, as required by the Uniform Guidance, was performed on the Medical Assistance Program which represents 34% of the total expenditures reflected on the Schedule of Expenditures of Federal Awards. The 20% test for a low-risk auditee was satisfied as follows: WIA/WIOA Cluster: WIA/WIOA Dislocated Workers Formula Grant 17.278 $276,700; WIA/WIOA Adult Program 17.258 $195,335; WIA/WIOA Youth Activities 17.259 $193,774; Medical Assistance Program 93.778 $395,158; Temporary Assistance for Needy Families 93.558 $105,913. Total Federal Expenditures $1,166,880 X 20% = 233,376-Minimum Amount Which Must Be Tested. The Medical Assistance Program exceeds $233,376, and, therefore represents the only program requiring specific compliance testing.