Notes to SEFA
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Western Egyptian Economic Opportunity Council (Council) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee did elect to use the de minimis cost rate.
The Council did not provide federal awards to subrecipients during the year ended April 30, 2024.
Title: Description of Major Federal Program
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Western Egyptian Economic Opportunity Council (Council) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee did elect to use the de minimis cost rate.
The major federal program of the Council is the U.S. Department of Health and Human Services – Head Start (93.600). The purpose of the Head Start program is to promote the school readiness of low-income preschool children ages 3 to 5 and migratory seasonal and farm workers, and infants and toddlers.
Title: Loans Oustanding and Insurance
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Western Egyptian Economic Opportunity Council (Council) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee did elect to use the de minimis cost rate.
The Council did not receive any federal loans, or federal insurance for the year ended April 30, 2024.
Title: Non-cash Assistance
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Western Egyptian Economic Opportunity Council (Council) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee did elect to use the de minimis cost rate.
The Council received federal non-cash assistance in the amoun of $275,598 of food commodities from the U.S. Department of Agriculture.