Notes to SEFA
Accounting Policies: NOTE ABASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activityof Areawide Aging Agency, Inc. (Areawide) under programs of the federal government for the year endedJune 30, 2022. The information in this SEFA is presented in accordance with the requirements of Title 2U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Because the SEFA presents only a selectedportion of the operations of Areawide, it is not intended to and does not present the financial position,changes in net assets, or cash flows of Areawide.NOTE BSUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures arerecognized following, as applicable, either the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement. Areawide has electednot to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.NOTE CSUBRECIPIENTS: See SEFA Schedule NOTE DSUBSEQUENT EVENTSAreawide has evaluated the effects of all subsequent events from June 30, 2022, through December 31,2022, the date the SEFA was available to be issued, for potential recognition or disclosure in this SEFA.Areawide is not aware of any subsequent events which would require recognition or disclosure in the SEFA
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.