Notes to SEFA
Title: Basis of preparation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all
federal award programs of Jobs for Maine’s Graduates, Inc. All federal awards received directly
from federal agencies as well as federal awards passed through other governmental agencies are
included on the schedule. The information in this schedule is presented in accordance with the
requirements of the Uniform Guidance. Because the schedule presents only a selected portion of
the operations of Jobs for Maine's Graduates, Inc., it is not intended to and does not present the
financial position, changes in net assets, or cash flows of Jobs for Maine's Graduates, Inc.
Title: Summary of significant accounting policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. Jobs for Maine's Graduates, Inc. has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.