Notes to SEFA
Title: NOTE C - FOOTNOTES
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes only the federal grant activity of the Greater Community Action Committee. The information in the 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the combined financial statements. 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.
De Minimis Rate Used: Both
Rate Explanation: The Agency has been approved to use the de minimis indirect cost rate of 10% on direct salaries and wages with the Department of Health and Human Services. All other federal funding sources have chosen to use the Agency's cost allocation plan, which used a rate of 6.65% of contract amounts for the year ended September 30, 2023.
(a) negative accrued revenue represents temporarily restricted net assets to be spent for specific purposes in future periods or amounts payable back to the funding source. (b) negative expense/drawdowns are the result of a change in funding source classifications from the prior year or repayments of excess funds to the funding source
Title: NOTE D - FUNDING SOURCE KEY
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes only the federal grant activity of the Greater Community Action Committee. The information in the 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the combined financial statements. 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.
De Minimis Rate Used: Both
Rate Explanation: The Agency has been approved to use the de minimis indirect cost rate of 10% on direct salaries and wages with the Department of Health and Human Services. All other federal funding sources have chosen to use the Agency's cost allocation plan, which used a rate of 6.65% of contract amounts for the year ended September 30, 2023.
see notes to sefa for table