Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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 on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. For purposes of charging indirect costs to federal awards, the Agency has not elected to use the 10 percent de minimis cost rate as permitted by §200.414 of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are allocated pursuant to an indirect allocation plan approved annually by the Department of Commerce. Therein, actual pooled indirect costs are distributed to programs on the basis of personnel costs.
The accompanying schedule of expenditures of federal awards includes the federal grant activity
of Northeast Mississippi Community Services, Inc. and is presented on the accrual basis of
accounting. The information in this schedule is presented in accordance with the requirements of
Title 2 U.S. Code of Federal Regulations (CFR) 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, changes in net assets or
cash flows of the Agency.
Title: Note 2 – Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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 on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. For purposes of charging indirect costs to federal awards, the Agency has not elected to use the 10 percent de minimis cost rate as permitted by §200.414 of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are allocated pursuant to an indirect allocation plan approved annually by the Department of Commerce. Therein, actual pooled indirect costs are distributed to programs on the basis of personnel costs.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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 on the Schedule represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years. Pass-through entity
identifying numbers are presented where available. For purposes of charging indirect costs to
federal awards, the Agency has not elected to use the 10 percent de minimis cost rate as
permitted by §200.414 of the Uniform Guidance.
Title: Note 3 – Meals
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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 on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. For purposes of charging indirect costs to federal awards, the Agency has not elected to use the 10 percent de minimis cost rate as permitted by §200.414 of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are allocated pursuant to an indirect allocation plan approved annually by the Department of Commerce. Therein, actual pooled indirect costs are distributed to programs on the basis of personnel costs.
Certain aging program meal costs are paid by the Northeast Mississippi Planning and
Development District, Inc., (NEMPDD) but are administered by NEMCS. Accordingly, these
expenditures have been included in the Schedule of Expenditures of Federal Awards. Such
meals paid by NEMPDD for 2023 totaled approximately $360,900.