Audit 291688

Accounting Policies: 1 - BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Worcester Community Action Council, Inc. (the Council) under programs of the federal government for the year ended September 30, 2023. The information in this Schedule is presented 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 the Council, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Council. For the purposes of the Schedule, federal awards include all grants, contracts and similar agreements entered into directly and indirectly between the Council and departments of the federal government and the Commonwealth of Massachusetts. 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of accounting Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: The Council has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.