Notes to SEFA
Title: 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. Passthrough
entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Area IV Agency has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The schedule of expenditures of federal awards (Schedule) includes the federal grants activity of
Area IV Agency on Aging and Community Action Programs, Inc. (Area IV Agency) under
programs of the federal government for the year ended December 31, 2023. The information in
this Schedule is presented in accordance with the audit 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 Area IV Agency, it is not intended to and does not present
the financial position, activities and changes in net assets or cash flows of Area IV Agency.
Title: Subrecipients
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. Passthrough
entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Area IV Agency has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Federal awards provided to subrecipients during the year ended December 31, 2023 were $372,724 as detailed in the Schedule of Expenditures of Federal Awards.