Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards include the federal grant activity ofCommunity Action Partnership of Huntsville/Madison & Limestone Counties, Inc. ("the Agency"), and ispresented on the accrual basis of accounting. The information in this schedule is presented in accordancewith the requirements of OMB Uniform Guidance, "Audits of States, Local Governments, and Non-ProfitOrganizations."
De Minimis Rate Used: N
Rate Explanation: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Negative amounts shown on theSchedule represent adjustments or credits made in the normal course of business to amounts reported asexpenditures in prior years. The Agency has elected not to use the 10-percent de minimis indirect costrate allowed under the Uniform Guidance. The Agency elected to use the negotiated indirect cost rateapproved by the cognizant federal agency.