Notes to SEFA
Title: Basis of Presentation
Accounting Policies: SEFA is prepared based on accrual based accounting which is the same for the financial statements. Only expenditures incurred and billed for in that fiscal year are reported on the SEFA. All federal grants are assigned their own separate project number and tracked separately. Any differences between the SEFA and the general ledger are reconciled at year end.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Catholic Community Services of Utah (CCS) under programs of the federal government for the year ended June 30, 2024. The information is presented in accordance with requirements of Title 2 U.S. 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 CCS, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of CCS.
Title: Significant Accounting Policies
Accounting Policies: SEFA is prepared based on accrual based accounting which is the same for the financial statements. Only expenditures incurred and billed for in that fiscal year are reported on the SEFA. All federal grants are assigned their own separate project number and tracked separately. Any differences between the SEFA and the general ledger are reconciled at year end.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
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. No federal financial assistance has been provided to a subrecipient.
Title: Indirect Cost Rate
Accounting Policies: SEFA is prepared based on accrual based accounting which is the same for the financial statements. Only expenditures incurred and billed for in that fiscal year are reported on the SEFA. All federal grants are assigned their own separate project number and tracked separately. Any differences between the SEFA and the general ledger are reconciled at year end.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
CCS has elected to use the 10% de minimis cost rate.
Title: Food Donation
Accounting Policies: SEFA is prepared based on accrual based accounting which is the same for the financial statements. Only expenditures incurred and billed for in that fiscal year are reported on the SEFA. All federal grants are assigned their own separate project number and tracked separately. Any differences between the SEFA and the general ledger are reconciled at year end.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Nonmonetary assistance is reported in the Schedule at the estimated fair market value of commodities received and disbursed under the Emergency Food Assistance Program (AL 10.569). Federal awards in the form of commodities consist of food that is valued at a rate set by CCS’ management based on a nationally established price, which was $1.93 per pound for the year ended June 30, 2024. This price is used by CCS in valuing all food donations received. At June 30, 2024, CCS had food commodities from federal sources totaling $151,047 in inventor