Notes to SEFA
Title: Note 2 – Program Costs
Accounting Policies: This schedule is prepared on the same basis of accounting as the financial statements of the South Central Workforce Development Council (SCWDC). The Council uses the generally accepted accounting principles (GAAP).
De Minimis Rate Used: N
Rate Explanation: The SCWDC allocates indirect costs to programs each month based on the direct salaries and benefits incurred by that program that month. During the year ended June 30, 2024, $324,025 was allocated to U.S. Department of Labor programs based on $819,184 in direct salaries and benefits, $12,533 was allocated to the U.S. Department of Health and Human Services program based on $32,213 in direct salaries and benefits and $541 was allocated to the U.S. Department of Housing and Urban Development program based on $1,314 in direct salaries and benefits. The SCWDC has not elected to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the SCWDC’s portion, are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Certain grants designated as ACP-WIOA PY22/FY23 6109-7302, ACP-WIOA PY23/FY24 6109-7303, Economic Security For All 6109-7621-07 and Economic Security For All 6109-7622-07 are included in two or more of the following ALN programs: 17.258 (Adult), 17.259 (Youth) and 17.278 (Dislocated Worker). The amount of such grants that have been included in each of these programs is based on the percentage of the grant expended in the year ended June 30, 2024, multiplied by the amount allocated to each ALN program as indicated in each grant, unless specified by the grantor