Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting and reconcile to federal grant revenue reported in the statement of activities. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Council did not elect to use the 10% de minimis indirect cost rate for the fiscal year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The Council did not elect to use the 10% de minimis indirect cost rate for the fiscal year ended September 30, 2023
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Washington County Community Action Council, 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 Washington County Community Action Council, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Washington County Community Action Council, Inc.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting and reconcile to federal grant revenue reported in the statement of activities. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Council did not elect to use the 10% de minimis indirect cost rate for the fiscal year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The Council did not elect to use the 10% de minimis indirect cost rate for the fiscal year ended September 30, 2023
Expenditures reported on the Schedule are reported on the accrual basis of accounting and reconcile to federal grant revenue reported in the statement of activities. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Council did not elect to use the 10% de minimis indirect cost rate for the fiscal year ended September 30, 2023.
Title: FEDERALLY FINANCED LOANS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting and reconcile to federal grant revenue reported in the statement of activities. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Council did not elect to use the 10% de minimis indirect cost rate for the fiscal year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The Council did not elect to use the 10% de minimis indirect cost rate for the fiscal year ended September 30, 2023
The Council had the following outstanding loan balances for the year ended September 30, 2023. There were no additional borrowings on these loans during the year ended September 30, 2023. These loan balances are also included in the federal expenditures presented in the schedule of expenditures of federal awards. See the Notes to the SEFA for chart/table.
Title: RECONCILIATION OF FEDERAL REVENUE TO EXPENDITURES OF FEDERAL AWARDS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting and reconcile to federal grant revenue reported in the statement of activities. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Council did not elect to use the 10% de minimis indirect cost rate for the fiscal year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The Council did not elect to use the 10% de minimis indirect cost rate for the fiscal year ended September 30, 2023
The following reconciliation shows differences between federal revenue reported on the statement of activities for the year ended September 30, 2023 included in the basic financial statements and the total expenditures reported on the schedule of expenditures of federal awards for the year ended September 30, 2023. See the Notes to the SEFA for chart/table.