Notes to SEFA
Title: PURPOSE OF SCHEDULE
Accounting Policies: ACCRUAL BASIS OF ACCOUNTING. INCLUDES ALL FEDERAL PROGRAMS ADMINISTERED BY COMMUNITY ACTION OF SKAGIT COUNTY.
De Minimis Rate Used: Y
Rate Explanation: THE AUDITEE USED THE 10% DE MINIMIS COST RATE.
The accompanying schedule of expenditures of federal awards (the Schedule) is a supplementary schedule to Community Action of Skagit County’s (the Organization’s) financial statements and is presented for purposes of additional analysis. Because the Schedule presents only a selected portion of the activities of the Organization, it does not present the financial position, changes in financial position, or the revenues and expenditures of the Organization.
Title: BASIS OF ACCOUNTING
Accounting Policies: ACCRUAL BASIS OF ACCOUNTING. INCLUDES ALL FEDERAL PROGRAMS ADMINISTERED BY COMMUNITY ACTION OF SKAGIT COUNTY.
De Minimis Rate Used: Y
Rate Explanation: THE AUDITEE USED THE 10% DE MINIMIS COST RATE.
This schedule is prepared on the same basis of accounting as the Organization’s financial statements. The Organization uses the accrual basis of accounting.
Title: REPORTING ENTITY
Accounting Policies: ACCRUAL BASIS OF ACCOUNTING. INCLUDES ALL FEDERAL PROGRAMS ADMINISTERED BY COMMUNITY ACTION OF SKAGIT COUNTY.
De Minimis Rate Used: Y
Rate Explanation: THE AUDITEE USED THE 10% DE MINIMIS COST RATE.
The reporting entity is described in Note 1 to the Organization’s financial statements. The Schedule includes all federal programs administered by the Organization for the year ended December 31, 2022