Notes to SEFA
Accounting Policies: NOTE A--SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation---The accompanying schedule of expenditures of federal awards (the Schedule)
includes the federal award activity of Community Action Committee of Pike County under programs of the
federal government for the year ended December 31, 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 Community Action
Committee of Pike County, it is not intended to and does not present the financial position, changes in net
assets, or cash flows of Community Action Committee of Pike County.
Basis of Accounting---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 limited as to reimbursement.
Indirect Costs---The U.S. Department of Health and Human Services approved an indirect cost allocation
plan that provided for a provisional indirect cost rate of 9.58% to be applied to all programs, therefore the
Organization did not elect to use the 10% de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: N/A