Notes to SEFA
Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: NOTE 1 – BASIS OF PRESENTATION, NOTE2B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, NOTE 3 – INDIRECT COST RATE
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10 percent de minimis indirect cost rate. The provisional indirect cost rate for the year ended June 30, 2024 was 18.12%.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of CareerSource Palm Beach County, Inc., (the “Organization”), 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 Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (the “Uniform Guidance”). Because the Schedule presents only
a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization. All of the Organization’s federal awards were in the form of cash assistance for the year ended
June 30, 2024.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE 1 – BASIS OF PRESENTATION, NOTE2B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, NOTE 3 – INDIRECT COST RATE
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10 percent de minimis indirect cost rate. The provisional indirect cost rate for the year ended June 30, 2024 was 18.12%.
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.
Title: NOTE 3 – INDIRECT COST RATE
Accounting Policies: NOTE 1 – BASIS OF PRESENTATION, NOTE2B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, NOTE 3 – INDIRECT COST RATE
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10 percent de minimis indirect cost rate. The provisional indirect cost rate for the year ended June 30, 2024 was 18.12%.
The Organization did not elect to use the 10 percent de minimis indirect cost rate. The provisional indirect cost rate for the year ended June 30, 2024 was 18.12%.