Notes to SEFA
Title: NOTE 1 — BASIS OF PRESENTATION
Accounting Policies: Expenditures in 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.
De Minimis Rate Used: N
Rate Explanation: Southwest has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance and instead has a unique restricted indirect cost allocation plan across all of its programs.
The accompanying schedule of expenditures of federal awards includes the activity of all federal and state award and financial assistance programs of Southwest Human Resource Agency and is presented on the modified accrual basis of accounting. Federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included on the schedule. The information in this schedule is presented in accordance with the 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 Southwest Human Resource Agency, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Southwest Human Resource Agency.
Title: NOTE 2 — EMERGENCY FOOD ASSISTANCE
Accounting Policies: Expenditures in 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.
De Minimis Rate Used: N
Rate Explanation: Southwest has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance and instead has a unique restricted indirect cost allocation plan across all of its programs.
Non-monetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. At June 30, 2024, Southwest had food commodities inventory totaling at $267,465.
Title: NOTE 3 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures in 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.
De Minimis Rate Used: N
Rate Explanation: Southwest has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance and instead has a unique restricted indirect cost allocation plan across all of its programs.
Expenditures in 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.
Title: NOTE 4 — INDIRECT COST RATE
Accounting Policies: Expenditures in 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.
De Minimis Rate Used: N
Rate Explanation: Southwest has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance and instead has a unique restricted indirect cost allocation plan across all of its programs.
Southwest has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance and instead has a unique restricted indirect cost allocation plan across all of its programs.