Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of Jobs for Maines Graduates, Inc. All federal awards received directly from federal agencies as well as federal awards passed through other governmental agencies are included on the schedule. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Because the schedule presents only a selected portion of the operations of Jobs for Maine's Graduates, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Jobs for Maine's Graduates, Inc.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of Jobs for Maine’s Graduates, Inc. All federal awards received directly from federal agencies as well as federal awards passed through other governmental agencies are included on the schedule. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Because the schedule presents only a selected portion of the operations of Jobs for Maine's Graduates, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Jobs for Maine's Graduates, Inc.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of Jobs for Maines Graduates, Inc. All federal awards received directly from federal agencies as well as federal awards passed through other governmental agencies are included on the schedule. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Because the schedule presents only a selected portion of the operations of Jobs for Maine's Graduates, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Jobs for Maine's Graduates, Inc.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual
basis of accounting. Jobs for Maine's Graduates, Inc. has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.