Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures
are recognized following the cost principles contained in the Uniform Guidance, wherein certain types
of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: STWDB has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal
award activity of The Stark Tuscarawas Workforce Development Board (STWDB) under programs of
the federal government for the year ended June 30, 2023. The information on this Schedule is prepared
in accordance with the requirements of Title 2 U.S. Code of Federal Regulations 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 STWDB, it is
not intended to and does not present the financial position or changes in net position of STWDB.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures
are recognized following the cost principles contained in the Uniform Guidance, wherein certain types
of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: STWDB has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures
are recognized following the cost principles contained in the Uniform Guidance, wherein certain types
of expenditures may or may not be allowable or may be limited as to reimbursement.
Title: INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures
are recognized following the cost principles contained in the Uniform Guidance, wherein certain types
of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: STWDB has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
STWDB has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures
are recognized following the cost principles contained in the Uniform Guidance, wherein certain types
of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: STWDB has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
STWDB passes certain federal awards received from the U.S. Department of Labor and the Ohio
Department of Job and Family Services to other governments or not-for-profit agencies (subrecipients).
As Note B describes, STWDB reports expenditures of federal awards to subrecipients on a cash basis.