Notes to SEFA
Title: Basis of Presentation
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting.(2) 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.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Central Virginia Alliance for Community Living, Inc. (CVACL) under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Because the Schedule presents only a selected portion of the operations of CVACL, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the CVACL.
Title: Subrecipient Monitoring
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting.(2) 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.
CVACL does not have any subrecipients.
Title: Outstanding Loan Balances
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting.(2) 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.
At September 30, 2022, CVACL had no outstanding loan balances requiring continuing disclosure.