Notes to SEFA
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Central Virginia Alliance for Community Living, Inc. (CVACL) under programs of the federal government for the year ended September 30, 2024. The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements
for Federal Awards. Because the Schedule presents only a selected portion of the operations of CVACL, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the CVACL.
De Minimis Rate Used: N
Rate Explanation: CVACL did not elect to use the 10% de minimis indirect cost rate.
(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting.
(2) Pass-through entity identifying numbers are presented where available.
Title: Subrecipient Monitoring
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Central Virginia Alliance for Community Living, Inc. (CVACL) under programs of the federal government for the year ended September 30, 2024. The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements
for Federal Awards. Because the Schedule presents only a selected portion of the operations of CVACL, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the CVACL.
De Minimis Rate Used: N
Rate Explanation: CVACL did not elect to use the 10% de minimis indirect cost rate.
CVACL does not have any subrecipients.
Title: Outstanding Loan Balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Central Virginia Alliance for Community Living, Inc. (CVACL) under programs of the federal government for the year ended September 30, 2024. The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements
for Federal Awards. Because the Schedule presents only a selected portion of the operations of CVACL, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the CVACL.
De Minimis Rate Used: N
Rate Explanation: CVACL did not elect to use the 10% de minimis indirect cost rate.
At September 30, 2024, CVACL had no outstanding loan balances requiring continuing disclosure.