Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Northeast Missouri 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 the 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.
De Minimis Rate Used: N
Rate Explanation: NONE
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Northeast Missouri 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 the 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.
Title: NOTE B - LOANS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Northeast Missouri 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 the 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.
De Minimis Rate Used: N
Rate Explanation: NONE
The accompanying schedule of expenditures of federal awards includes the outstanding balance at 10/01/2023 of CHDO forgivable loans
because the Federal Government imposes continuing compliance requirements. Balance at 09/30/2024 was $ 2,441,500.00
Title: NOTE C - INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Northeast Missouri 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 the 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.
De Minimis Rate Used: N
Rate Explanation: NONE
Northeast Missouri Community Action Agency did not elect to use the de minimis indirect cost rate.