Notes to SEFA
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Mid Central Community Action, Inc. (Corporation) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The Consolidated Organization received a negotiated rate through the State Department of Commerce and Economic Opportunity of 42.09% of total Direct salaries and Benefits and utilized this rate for their grant in the year ended June 30, 2024.
The Corporation did not provide federal awards to subrecipients during the year ended June 30, 2024.
Title: Non-Cash Assistance, Loans Outstanding, and Insurance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Mid Central Community Action, Inc. (Corporation) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The Consolidated Organization received a negotiated rate through the State Department of Commerce and Economic Opportunity of 42.09% of total Direct salaries and Benefits and utilized this rate for their grant in the year ended June 30, 2024.
The Corporation did not receive any federal non-cash assistance, federal loans, or federal insurance for the year ended June 30, 2024.