Notes to SEFA
Accounting Policies: The accompanying schedule of expeditures of federal awards (the "Schedule") includes the federal grant activity of Preble County Council on Aging, Inc. under programs of the federal government for the year ended December 31, 2024. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 the Council, it is not intended to and does not present the financial position, changes in net assets, or cash flows for the Council.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The Council has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance; rather, the Council maintains an indirect cost pool, which is allocated based on direct activities.