Notes to SEFA
Title: GENERAL
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
A.
Negative amounts, if any, shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
B.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Local Area has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Local Area of Workforce Development Manatí / Dorado (Local Area) under programs of the Federal government for the fiscal year ending June 30, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Local Area, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Local Area.
Title: FEDERAL ASSISTANCE LISTING NUMBER
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
A.
Negative amounts, if any, shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
B.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Local Area has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Assistance Listing Number, formerly known as the Catalog of Federal Domestic Assistance (CFDA) Number, is a five-digit number assigned in the awarding document for all Federal assistance award mechanisms, including Federal grants and cooperative agreements.
Title: RELATIONSHIPS TO FEDERAL FINANCIAL REPORTS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
A.
Negative amounts, if any, shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
B.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Local Area has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures of Federal awards reported in the Local Area's Statement of Activities and Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances differed with those reported to Federal agency.