Notes to SEFA
Title: NOTE 1: PURPOSE OF THE SCHEDULE
Accounting Policies: Accrual basis of accounting. Schedule presents all of the federal grant activity for 2023.
De Minimis Rate Used: Y
Rate Explanation: The organization used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) is a supplementary schedule to Community Action of Skagit County’s (the Organization’s) financial statements and is presented for purposes of additional analysis. Because the Schedule presents only a selected portion of the activities of the Organization, it does not present the financial position, changes in financial position, or the revenues and expenditures of the Organization.
Title: NOTE 2: DE-MINIMIS COST RATE
Accounting Policies: Accrual basis of accounting. Schedule presents all of the federal grant activity for 2023.
De Minimis Rate Used: Y
Rate Explanation: The organization used the de minimis cost rate.
The Organization used the 10% de-minimis cost rate.
Title: NOTE 3: BASIS OF ACCOUNTING
Accounting Policies: Accrual basis of accounting. Schedule presents all of the federal grant activity for 2023.
De Minimis Rate Used: Y
Rate Explanation: The organization used the de minimis cost rate.
This schedule is prepared on the same basis of accounting as the Organization’s financial statements. The Organization uses the accrual basis of accounting
Title: NOTE 4: REPORTING ENTITY
Accounting Policies: Accrual basis of accounting. Schedule presents all of the federal grant activity for 2023.
De Minimis Rate Used: Y
Rate Explanation: The organization used the de minimis cost rate.
The reporting entity is described in Note 1 to the Organization’s financial statements. The Schedule includes all federal programs administered by the Organization for the year ended December 31, 2023