Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant expenditures of the Center for Employment Opportunities (“CEO”) under programs of the federal government for the year ended June 30, 2024 and is prepared on the accrual basis of accounting. 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”). Because the Schedule presents only a selected portion of the operations of CEO, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CEO.
De Minimis Rate Used: N
Rate Explanation: CEO has a negotiated indirect cost rate agreement with the Department of Labor as the cognizant agency for indirect costs. As such, CEO is not eligible to use the 10-percent de minimis indirect cost rate as provided by §200.414 Indirect (F&A) Costs of the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant expenditures of the Center for Employment Opportunities (“CEO”) under programs of the federal government for the year ended June 30, 2024 and is prepared on the accrual basis of accounting. 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”). Because the Schedule presents only a selected portion of the operations of CEO, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CEO.
Title: INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant expenditures of the Center for Employment Opportunities (“CEO”) under programs of the federal government for the year ended June 30, 2024 and is prepared on the accrual basis of accounting. 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”). Because the Schedule presents only a selected portion of the operations of CEO, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CEO.
De Minimis Rate Used: N
Rate Explanation: CEO has a negotiated indirect cost rate agreement with the Department of Labor as the cognizant agency for indirect costs. As such, CEO is not eligible to use the 10-percent de minimis indirect cost rate as provided by §200.414 Indirect (F&A) Costs of the Uniform Guidance.
CEO has a negotiated indirect cost rate agreement with the Department of Labor as the cognizant agency for indirect costs. As such, CEO is not eligible to use the 10-percent de minimis indirect cost rate as provided by §200.414 Indirect (F&A) Costs of the Uniform Guidance.