Notes to SEFA
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES FOR FEDERAL AWARD EXPENDITURES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the federal
award expenditures disbursed by Workforce, Inc. d/b/a RecycleForce received from the federal government
for the year ended June 30, 2024. For the purpose of the Schedule, federal awards include pass-through
funds from grants and contracts entered into directly between Workforce, Inc. d/b/a RecycleForce and state
or local agencies, and departments of the federal government, or other organizations.
award expenditures disbursed by Workforce, Inc. d/b/a RecycleForce received from the federal government
for the year ended June 30, 2024. For the purpose of the Schedule, federal awards include pass-through
funds from grants and contracts entered into directly between Workforce, Inc. d/b/a RecycleForce and state
or local agencies, and departments of the federal government, or other organizations. Inventory
Materials and supplies are charged to expense during the period of purchase. As a result, no inventory is
recognized for these items in the accompanying consolidated financial statements.
De Minimis Rate Used: Y
Rate Explanation: Workforce, Inc. d/b/a RecycleForce has elected to use the ten-percent de-minimis indirect cost rate allowed under the Uniform Guidance.
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.
Expenditures consist of direct and indirect costs. Direct costs are those that can be readily identified with
an individual federally sponsored program. Benefit payments made on behalf of an eligible recipient and
the materials consumed by the program are examples of direct costs.
Title: MANAGEMENT’S USE OF ESTIMATES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the federal
award expenditures disbursed by Workforce, Inc. d/b/a RecycleForce received from the federal government
for the year ended June 30, 2024. For the purpose of the Schedule, federal awards include pass-through
funds from grants and contracts entered into directly between Workforce, Inc. d/b/a RecycleForce and state
or local agencies, and departments of the federal government, or other organizations.
award expenditures disbursed by Workforce, Inc. d/b/a RecycleForce received from the federal government
for the year ended June 30, 2024. For the purpose of the Schedule, federal awards include pass-through
funds from grants and contracts entered into directly between Workforce, Inc. d/b/a RecycleForce and state
or local agencies, and departments of the federal government, or other organizations. Inventory
Materials and supplies are charged to expense during the period of purchase. As a result, no inventory is
recognized for these items in the accompanying consolidated financial statements.
De Minimis Rate Used: Y
Rate Explanation: Workforce, Inc. d/b/a RecycleForce has elected to use the ten-percent de-minimis indirect cost rate allowed under the Uniform Guidance.
The preparation of the Schedule of Expenditures of Federal Awards requires management to make
estimates and assumptions that affect the reported amounts of assets, liabilities, disclosure of contingent
assets and liabilities, and the reported amounts of revenues and expenses. Actual results could differ from
those estimates.