Title: Note B
Accounting Policies: NOTE A - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of
the Workforce Development Board of Western Missouri, Inc. 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
US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the
operations of the Workforce Development Board of Western Missouri, Inc., it is not intended to and does not present
the financial position, changes in net position, or cash flows of the Workforce Development Board of Western
Missouri, Inc.
De Minimis Rate Used: N
Rate Explanation: The Workforce Development of Western Missouri, Inc. uses approved indirect cost rates and ahas not elected to use the 10% de minimis cost rate as covered in 2 CFR 200.4 indirect (F&A) costs.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the modified 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. Therefore, some amounts presented in this
schedule may differ from amounts used in the preparation of the financial statements.
Title: Note C
Accounting Policies: NOTE A - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of
the Workforce Development Board of Western Missouri, Inc. 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
US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the
operations of the Workforce Development Board of Western Missouri, Inc., it is not intended to and does not present
the financial position, changes in net position, or cash flows of the Workforce Development Board of Western
Missouri, Inc.
De Minimis Rate Used: N
Rate Explanation: The Workforce Development of Western Missouri, Inc. uses approved indirect cost rates and ahas not elected to use the 10% de minimis cost rate as covered in 2 CFR 200.4 indirect (F&A) costs.
SUBRECIPIENTS
Of the federal expenditures presented in the schedule, Workforce Development Board of Western Missouri, Inc.
provided federal awards to subrecipients as follows:
Title: Note D
Accounting Policies: NOTE A - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of
the Workforce Development Board of Western Missouri, Inc. 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
US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the
operations of the Workforce Development Board of Western Missouri, Inc., it is not intended to and does not present
the financial position, changes in net position, or cash flows of the Workforce Development Board of Western
Missouri, Inc.
De Minimis Rate Used: N
Rate Explanation: The Workforce Development of Western Missouri, Inc. uses approved indirect cost rates and ahas not elected to use the 10% de minimis cost rate as covered in 2 CFR 200.4 indirect (F&A) costs.
INDIRECT COSTS
The Workforce Development Board of Western Missouri, Inc. uses approved indirect costs rates and has not elected
to use the 10% de minimis cost rate as covered in 2 CFR 200.4 indirect (F&A) costs.