Title: Note 1- Basis of Presentation
Accounting Policies: The Schedule of Expenditures of Federal Awards include the federal grant activity of the Community Action Agency of Southern New Mexico 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, Part 200, Uniform Administrative Requirements, Cost Principles, and audit requirements for federal awards (Uniform Guidance). Some amounts presented in this schedule may differ from amounts presented in, or used in preperation of, the consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The Agency did not use the 10 percent de minimis indirect cost rate.
The Schedule of Expenditures of Federal Awards include the federal grant activity of the Community Action Agency of Southern New Mexico 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, Part 200, Uniform Administrative Requirements, Cost Principles, and audit requirements for federal awards (Uniform Guidance). Some amounts presented in this schedule may differ from amounts presented in, or used in preperation of, the consolidated financial statements.
Title: Note 2- Subrecipients
Accounting Policies: The Schedule of Expenditures of Federal Awards include the federal grant activity of the Community Action Agency of Southern New Mexico 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, Part 200, Uniform Administrative Requirements, Cost Principles, and audit requirements for federal awards (Uniform Guidance). Some amounts presented in this schedule may differ from amounts presented in, or used in preperation of, the consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The Agency did not use the 10 percent de minimis indirect cost rate.
The Agency did not provide any federal funds to sub- recipients during the year.
Title: Note 3- Non-cash Assistance and Loan Guarantees
Accounting Policies: The Schedule of Expenditures of Federal Awards include the federal grant activity of the Community Action Agency of Southern New Mexico 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, Part 200, Uniform Administrative Requirements, Cost Principles, and audit requirements for federal awards (Uniform Guidance). Some amounts presented in this schedule may differ from amounts presented in, or used in preperation of, the consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The Agency did not use the 10 percent de minimis indirect cost rate.
There were no federal awards expended in the form of non-cash assistance of loan guarantees outstanding at year-end.
Title: Note 4- Indirect Cost rate
Accounting Policies: The Schedule of Expenditures of Federal Awards include the federal grant activity of the Community Action Agency of Southern New Mexico 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, Part 200, Uniform Administrative Requirements, Cost Principles, and audit requirements for federal awards (Uniform Guidance). Some amounts presented in this schedule may differ from amounts presented in, or used in preperation of, the consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The Agency did not use the 10 percent de minimis indirect cost rate.
The Agency did not use the 10 percent de minimis indirect cost rate.