Notes to SEFA
Title: Basis of Presentation
Accounting Policies: a) 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.
b) Bridges County Community Action Partnership has elected not to use the 10 percent
de minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Bridges County Community Action Partnership has elected not to use the 10 percent
de minimus indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the
federal award activity of Bridges Community Action Partnership ("Organization") 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 the Organization, it is not
intended to and does not present the Organization's financial position, changes in net assets,
or cash flows.