Notes to SEFA
Title: Workforce Investment Act
Accounting Policies: The MCIU uses the modified accrual method of recording transactions except as noted for the accounting of donated commodities. Revenues are recorded when measureable and available. Expenditures are recorded when incurred.
De Minimis Rate Used: N
Rate Explanation: The MCIU did not use the federal de minimis indirect cost rate of 10% on their federal grants for the year ended June 30, 2023.
The Workforce Investment Act reimbursements are federal source revenues but are classified as fee-for-service and are not considered federal financial assistance. The amount of Workforce Investment Act funding recognzied for the year ended June 30, 2023 was $1,017,256.
Title: Emergency Assistance to Non-Public School Elementary And Secondary School Emergency Relief
Accounting Policies: The MCIU uses the modified accrual method of recording transactions except as noted for the accounting of donated commodities. Revenues are recorded when measureable and available. Expenditures are recorded when incurred.
De Minimis Rate Used: N
Rate Explanation: The MCIU did not use the federal de minimis indirect cost rate of 10% on their federal grants for the year ended June 30, 2023.
The Emergency Assistance to Non-Public School Elementary and Secondary School Emergency Relief reimbursements are federal soruce revenues but are classified as fee-for-service and are not considered federal financial assistance. The amount of Emergency Assistance to Non-Public School Elementary and Secondary School Emergency Relief funding recognized for the year ended June 30, 2023 was $8,482,834.