Notes to SEFA
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Community Action Agency of Butte County, Inc. 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 Agency of Butte County, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Community Action Agency of Butte County, Inc.
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: N
Rate Explanation: Community Action Agency of Butte County, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Community Action Agency of Butte County, Inc. does not have any sub-recipients of federal awards.
Title: Loan Balance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Community Action Agency of Butte County, Inc. 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 Agency of Butte County, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Community Action Agency of Butte County, Inc.
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: N
Rate Explanation: Community Action Agency of Butte County, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Loans outstanding at the beginning of the year plus any new loans received during the year are reported as federal expenses in the Schedule. The balance of loans outstanding at December 31, 2023 consists of: Communities Facilities Loans and Grants, AL #10.766 - $143,708.