Notes to SEFA
Title: NOTE A BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The organization has a negotiated indirect cost allocation plan agreement with the U.S Department of Labor, Cost & Price Determination Division. This allows for charging indirect costs to all funds equitably using a basis of direct labor hours. The approved rate for fiscal year ending June 30, 2024 is $34.23 per direct labor hour charged to the fund.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activities of Southwest Washington Workforce Development Council D/B/A Workforce Southwest Washington (WSW), 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 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 basic financial statements.
Title: NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The organization has a negotiated indirect cost allocation plan agreement with the U.S Department of Labor, Cost & Price Determination Division. This allows for charging indirect costs to all funds equitably using a basis of direct labor hours. The approved rate for fiscal year ending June 30, 2024 is $34.23 per direct labor hour charged to the fund.
Expenditures reported on the Schedule are reported on the 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: NOTE C INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The organization has a negotiated indirect cost allocation plan agreement with the U.S Department of Labor, Cost & Price Determination Division. This allows for charging indirect costs to all funds equitably using a basis of direct labor hours. The approved rate for fiscal year ending June 30, 2024 is $34.23 per direct labor hour charged to the fund.
Southwest Washington Workforce Development Council D/B/A Workforce Southwest Washington has not elected to use the 10% de minimis indirect cost rate. WSW has used the cost rate required by the grant funders.
Title: NOTE D SUBAWARDS
Accounting Policies: Expenditures reported on the Schedule are reported on the 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The organization has a negotiated indirect cost allocation plan agreement with the U.S Department of Labor, Cost & Price Determination Division. This allows for charging indirect costs to all funds equitably using a basis of direct labor hours. The approved rate for fiscal year ending June 30, 2024 is $34.23 per direct labor hour charged to the fund.
WSW passed through federal awards to the following subrecipients: See the Notes to the SEFA for Chart/Table