Notes to SEFA
Accounting Policies: 1. Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Bradford County Action, Inc. (BCA) under programs of the federal government for the year ended June 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 selected portion of the operations of BCA, it is not intended to and does not present the financial position, changes in net assets, or cash flows of BCA.2. Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the OMB Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Expenditures represent only the federally funded portions of the programs. BCA records should be consulted to determine the amounts expended or matched from non-federal sources, if any. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.