Notes to SEFA
Title: Basis of Presentation:
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the GAAP 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. Negative amounts shown on the schedule of expenditures of federal awards represent adjustments or credits made in the course of
business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Capstone Community Action, Inc. has elected to not 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 Capstone Community Action, Inc. 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 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 Capstone Community Action, Inc., it is not
intended to and does not present the financial position, changes in net assets or cash flows of Capstone Community Action, Inc.
Title: Summary of Significant Accounting Policies:
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the GAAP 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. Negative amounts shown on the schedule of expenditures of federal awards represent adjustments or credits made in the course of
business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Capstone Community Action, Inc. has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the schedule of expenditures of federal awards are reported on the GAAP 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. Negative amounts shown on the schedule of expenditures of federal awards represent adjustments or credits made in the course of
business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
Title: Indirect Cost Rate:
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the GAAP 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. Negative amounts shown on the schedule of expenditures of federal awards represent adjustments or credits made in the course of
business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Capstone Community Action, Inc. has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Capstone Community Action, Inc. has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Food Donation:
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the GAAP 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. Negative amounts shown on the schedule of expenditures of federal awards represent adjustments or credits made in the course of
business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Capstone Community Action, Inc. has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Nonmonetary assistance is reported in the Schedule at the fair value of the commodities received and disbursed.
Title: Subrecipients:
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the GAAP 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. Negative amounts shown on the schedule of expenditures of federal awards represent adjustments or credits made in the course of
business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Capstone Community Action, Inc. has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Capstone Community Action, Inc. had no subrecipients during the year ended September 30, 2024.