Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Basis of Presnetation
De Minimis Rate Used: N
Rate Explanation: Pecos County Community Action Agency has not elected to use the 10% de minims indirect cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity ofPecos
County Community Action Agency and is presented 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this
schedule may differ from amounts presented in, or used in the preparation of, the basic financial
statements.
Pecos County Community Action Agency has not elected to use the 10% de minims indirect cost rate.
Reconciliation ofExpenses to Schedule ofExpenditures ofFederal Awards:
Expenses per Statement of Activities $ 2,322,661
Capitalized Equipment (5472)
FederalExpenditures $ 2,317,189