Notes to SEFA
Accounting Policies: 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe accompanying schedule of expenditures of federal awards includes the federal grant activityof LifeWorks Community Action, Inc. (LifeWorks) and is prepared on the accrual basis ofaccounting.The information in this schedule is presented in accordance with the requirements of Title 2U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, someamounts presented in this schedule may differ from amounts presented in or used in thepreparation of the basic financial statements.2. NON-CASH ASSISTANCELifeWorks receives WIC Food Instruments plus administrative costs from the New York StateDepartment of Health under its nutrition programs for Women, Infants, and Children AssistanceListing Number 10.557. The U.S. Department of Agriculture has determined that WIC FoodInstruments are property in lieu of money. Therefore, $1,711,509 of WIC Food Instrumentshave been included in the schedule of federal expenditures of federal awards.3. FEDERAL LOANS AND LOAN GUARANTEESLifeWorks had no federal loans or loan guarantees outstanding as of December 31, 2022.4. INSURANCELifeWorks did not participate in any federal insurance programs for the year ended December31, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. LifeWorks did not have a negotiated indirect cost rate for the year ended December 31, 2022 and has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Administrative costs are included in LifeWorks grant agreement budgets, and therefore, negotiated rates are not needed.