Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Subpart E - Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization's significant accounting policies is presented in Note 2 in the Organization's basic consolidated financial statements. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate as covered in 2 CFR §200.414.
The accompanying Schedule of Expenditures of Federal Awards includes the federal activity of Bay Area Community Services, Inc., “the Organization,” for the year ended June 30, 2022 and is presented in the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance. The Organization received federal awards that were passed through from various governmental agencies, which are included on the Schedule of Federal Awards. Pass-through entity identifying numbers are presented where available.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Subpart E - Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization's significant accounting policies is presented in Note 2 in the Organization's basic consolidated financial statements. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate as covered in 2 CFR §200.414.
Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Subpart E - Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization's significant accounting policies is presented in Note 2 in the Organization's basic consolidated financial statements. Pass-through entity identifying numbers are presented where available.
Title: RELATIONSHIP TO FINANCIAL STATEMENTS
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Subpart E - Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization's significant accounting policies is presented in Note 2 in the Organization's basic consolidated financial statements. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate as covered in 2 CFR §200.414.
The amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with the amounts reported within the consolidated financial statements.
Title: FEDERAL ASSISTANCE LISTING NUMBERS
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Subpart E - Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization's significant accounting policies is presented in Note 2 in the Organization's basic consolidated financial statements. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate as covered in 2 CFR §200.414.
The Program titles and Assistance Listing numbers were obtained from the federal or pass-through grantor or the 2022 Federal Assistance Listings.
Title: INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Subpart E - Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization's significant accounting policies is presented in Note 2 in the Organization's basic consolidated financial statements. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate as covered in 2 CFR §200.414.
The Organization has not elected to use the 10 percent de minimis indirect cost rate as covered in 2 CFR §200.414.
Title: YEAR END LOAN BALANCES
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Subpart E - Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization's significant accounting policies is presented in Note 2 in the Organization's basic consolidated financial statements. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate as covered in 2 CFR §200.414.
Loan balances outstanding at year end are summarized as follows: Department of Housing and Urban Development Section 8 loan $ 120,303