Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. Eastern Area Agency on Aging has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
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 the Eastern Area Agency on Aging. 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 Eastern Area Agency on Aging, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Eastern Area Agency on Aging.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. Eastern Area Agency on Aging has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
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. Eastern Area Agency on Aging has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Food Distribution
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. Eastern Area Agency on Aging has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. Eastern Area Agency on Aging allocates donated food commodities to the respective programs that benefited from the use of these donated food commodities. At September 30, 2023, Eastern Area Agency on Aging had food commodities totaling $1,629 in inventory.