Notes to SEFA
Title: Note 2
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting. Revenues were adjusted to balance the expenditures incurred for each project.
De Minimis Rate Used: N
Rate Explanation: The Corporation did not elect to use the de-minimis 10% indirect cost rate.
Extensive compliance tests, as required by the Uniform Guidance, were performed on the WIOA Cluster, which, when combined, represents 64% of the total expenditures reflected on the Schedule of Expenditures of Federal Awards. The WIOA Cluster exceeds $1,454,778 and, therefore, represent the programs to which the specific compliance requirements must be applied.
Title: Note 3
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting. Revenues were adjusted to balance the expenditures incurred for each project.
De Minimis Rate Used: N
Rate Explanation: The Corporation did not elect to use the de-minimis 10% indirect cost rate.
The Temporary Assistance for Needy Families' deferred revenue amounts include payments received from the performance based portion of the related contract. The Department of Human Services has not yet defined the life of these performance funds but has restricted their use for the Temporary Assistance for Needy Families. During the current year, $10,038 was charged against the Temporary Assistance for Needy Families from the performance based portion of the related contracts.