Notes to SEFA
Title: NOTE 1 – BASIS OF ACCOUNTING
Accounting Policies: This schedule is prepared on the same basis of accounting as the Pacific Mountain Workforce
Development Council’s (PacMtn) financial statements. PacMtn uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: PacMtn has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
This schedule is prepared on the same basis of accounting as the Pacific Mountain Workforce
Development Council’s (PacMtn) financial statements. PacMtn uses the accrual basis of accounting.
Title: NOTE 2 – FEDERAL DE MINIMIS INDIRECT COST RATE
Accounting Policies: This schedule is prepared on the same basis of accounting as the Pacific Mountain Workforce
Development Council’s (PacMtn) financial statements. PacMtn uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: PacMtn has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
PacMtn has not elected to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
Title: NOTE 3 – INDIRECT COST RATE
Accounting Policies: This schedule is prepared on the same basis of accounting as the Pacific Mountain Workforce
Development Council’s (PacMtn) financial statements. PacMtn uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: PacMtn has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
PacMtn allocates indirect costs to programs each month based on the direct labor costs incurred by
that program that month. During the year ended June 30, 2023, $504,461 in indirect program costs
and $133,802 in indirect admin costs were allocated to programs based on $1,785,794 direct labor
costs. PacMtn has an approved provisional indirect cost rate of 37.28% from the U.S. Department of
Labor. This rate is used for planning purposes and amounts charged are based on actuals.
Title: NOTE 4 – PROGRAM COSTS
Accounting Policies: This schedule is prepared on the same basis of accounting as the Pacific Mountain Workforce
Development Council’s (PacMtn) financial statements. PacMtn uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: PacMtn has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenditures represent only the federal grant portion of the
program costs. Entire program costs, including PacMtn’s portion, are more than shown. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are
limited as to reimbursement.