Notes to SEFA
Title: Agent Revenue
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: CWP has an approved provisional indirect cost rate issued from the United States Department of Labor in the amount of 8.66%. CWP is not eligible to use the de minimis indirect cost rate under the Uniform Guidance.
CWP is the fiscal agent receiving Department of Education funding for another organization. The revenue and expense are recorded net and are not included on the statement of activities. Funding totaled $23,748 as of June 30, 2024, and is included in the Schedule.