Notes to SEFA
Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting for
governmental funds. 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 in 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 Agency has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal activity of
the Golden Sierra Job Training Agency (Agency) under programs of the federal government for the fiscal
year ended June 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 Agency, it is not intended to and does not present
the financial position and changes in net position of the Agency.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting for
governmental funds. 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 in 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 Agency has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting for
governmental funds. 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 in the Schedule represent adjustments or credits made in the
normal course of business to amounts reported as expenditures in prior years.
Title: NOTE 3 – RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting for
governmental funds. 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 in 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 Agency has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Federal award revenues are reported principally in the Agency’s financial statements as program revenues
in the General fund.
Title: NOTE 4 – PASS-THROUGH ENTITIES’ IDENTIFYING NUMBER
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting for
governmental funds. 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 in 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 Agency has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
When federal awards were received from a pass-through entity, the Schedule shows, if available, the
identifying number assigned by the pass-through entity. When no identifying number is shown, the Agency
has determined that no identifying number is assigned for the program or the Agency was unable to obtain
an identifying number from the pass-through entity.
Title: NOTE 5 – INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting for
governmental funds. 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 in 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 Agency has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The Agency has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.