Notes to SEFA
Title: Note 1 - 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of West CAP Santa Clara, LLC, HUD Project No. 074-35227 under programs of the federal government for the year ended June 30, 2024. 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. Because the schedule presents only a selected portion of the operations of West CAP Santa Clara, LLC, HUD Project No. 074-35227, it is not intended to and does not present the financial position, changes in net assets, or cash flows of West CAP Santa Clara, LLC, HUD Project No. 074-35227.
Title: Note 3 - CFDA 14.U01
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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: N/A
The above funding under Assistance Listing 14.U01 (formally 14.197) represents the beginning loan balance on two loans issued by the Department of Housing and Urban Development that were assigned to West Central Wisconsin Community Action Agency, Inc. The balance at June 30, 2024 was $1,133,287.
Title: Note 4 - 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: N/A
West CAP Santa Clara, LLC does not have any subrecipients and, therefore, has not incurred subrecipient expenditures during the year ended June 30, 2024.