Notes to SEFA
Title: DEFERRED AWARDS:
Accounting Policies: BASIS OF PRESENTATION:The accompanying schedule of expenditures of federal awards includes the federal grant activity ofFayette County Community Action Agency, Inc. and Affiliates (FCCAA) and is presented on the accrualbasis of accounting. The information in this schedule is presented in accordance with the requirementsof Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, someamounts presented in this schedule may differ from amounts presented in, or used in the preparationof, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Expenditures included in the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement.FCCAA has elected not to use the 10 percent de minimis indirect cost rate as allowed under UniformGuidance.Pass-through entity identifying numbers are presented where applicable.Certain costs included in the accompanying Schedule of Expenditures of Federal Awards have beencapitalized for financial statement purposes and are, therefore, not included in the accompanyingStatement of Activities.
FCCAA recognizes federal grants in excess of program expenditures as deferred awards. Deferred awards utilized as expenses are incurred through performance of the program.
Title: ACCRUED AWARDS:
Accounting Policies: BASIS OF PRESENTATION:The accompanying schedule of expenditures of federal awards includes the federal grant activity ofFayette County Community Action Agency, Inc. and Affiliates (FCCAA) and is presented on the accrualbasis of accounting. The information in this schedule is presented in accordance with the requirementsof Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, someamounts presented in this schedule may differ from amounts presented in, or used in the preparationof, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Expenditures included in the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement.FCCAA has elected not to use the 10 percent de minimis indirect cost rate as allowed under UniformGuidance.Pass-through entity identifying numbers are presented where applicable.Certain costs included in the accompanying Schedule of Expenditures of Federal Awards have beencapitalized for financial statement purposes and are, therefore, not included in the accompanyingStatement of Activities.
Grant revenues are accrued according to the specifications set forth in the specific grant agreements. Grants received by FCCAA are based upon funds available for distribution by the grantor or passthrough entity. Therefore, FCCAA recognizes expenditures in excess of grants as accrued awards.
Title: FOOD DISTRIBUTION:
Accounting Policies: BASIS OF PRESENTATION:The accompanying schedule of expenditures of federal awards includes the federal grant activity ofFayette County Community Action Agency, Inc. and Affiliates (FCCAA) and is presented on the accrualbasis of accounting. The information in this schedule is presented in accordance with the requirementsof Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, someamounts presented in this schedule may differ from amounts presented in, or used in the preparationof, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Expenditures included in the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement.FCCAA has elected not to use the 10 percent de minimis indirect cost rate as allowed under UniformGuidance.Pass-through entity identifying numbers are presented where applicable.Certain costs included in the accompanying Schedule of Expenditures of Federal Awards have beencapitalized for financial statement purposes and are, therefore, not included in the accompanyingStatement of Activities.
Nonmonetary assistance is reported in the schedule at the USDA assigned values of the commodities received and disbursed. At June 30, 2022, the FCCAA had food commodities totaling $397,803 in inventory.