Notes to SEFA
Title: NOTE 3 BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the “Schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Community Action Partnership has not elected to use the 10-percent de minimus cost rate as allowed under the Uniform Guidance.
The Schedule includes the federal grant activity of Community Action Partnership 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 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in
this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. Because the Schedule presents only a selected portion of the operations of Community Action Partnership, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Community Action Partnership.
Title: NOTE 4 AGENCY OR PASS-THROUGH NUMBER
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the “Schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Community Action Partnership has not elected to use the 10-percent de minimus cost rate as allowed under the Uniform Guidance.
Community Action Partnership received money passed through multiple grantor agencies. There were no pass-through numbers identified with the grants above that do not identify a pass-through identifying number.
Title: NOTE 5 FINANCIAL STATEMENT RECONCILIATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the “Schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Community Action Partnership has not elected to use the 10-percent de minimus cost rate as allowed under the Uniform Guidance.
Grant revenue per the Statement of Activities is $5,228,996 which includes $484,169 of state and local grant funding and $4,678,264 of federal grants. The schedule of expenditures of federal awards includes $65,907 of commodity expenditures that are not included on the financial statements as grant revenue and are reported as in-kind services and commodities. This amount added together with the amount of federal grant money included in grant revenue equals the $4,744,171 of federal expenditures as shown on the schedule of expenditures of federal awards.