Notes to SEFA
Title: Note 1 - Basis of Presentation:
Accounting Policies: (1) Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available. (4) The Agency did not pass any federal awards through to sub-recipients during the year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: (3) The Agency did not elect to use the 10% de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Valley Program for Aging Services, Inc. under programs of the federal government for the year ended September 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 Valley Program for Aging Services, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Valley Program for Aging Services, Inc.
Title: Note 3 - Relationship to Financial Statements:
Accounting Policies: (1) Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available. (4) The Agency did not pass any federal awards through to sub-recipients during the year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: (3) The Agency did not elect to use the 10% de minimis indirect cost rate.
Federal expenditures, revenues and capital contributions are reported in the Agency's basic financial statements as follows: Intergovernmental federal revenues per the basic financial statements $ 2,482,253 Total federal expenditures per the Schedule of Expenditures of Federal Awards $ 2,482,253