Notes to SEFA
Accounting Policies: Note A – Basis of Presentation
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award
activity of Inclusive Action for the City 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 Inclusive Action for the City, it is not intended to and does not present
the financial position, changes in net assets, or cash flows of Inclusive Action for the City
Note B – Summary of Significant 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.
De Minimis Rate Used: N
Rate Explanation: Note C – De Minimis Indirect Cost Rate
Inclusive Action for the City, has not elected to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.