Notes to SEFA
Title: Note 1: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards inlcudes the federal grant activity of Community Action Development Corporation (the Organization) 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).
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Community Action Development Corporation (the Organization) 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).
Title: Note 2: Contingent Liabilities
Accounting Policies: The accompanying schedule of expenditures of federal awards inlcudes the federal grant activity of Community Action Development Corporation (the Organization) 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).
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization participates in a number of federally assisted programs. These programs are audited in accordance with Government Auditing Standards and the Single Audit Act Amendments of 1996, if applicable, in accordance with their respective levels of federal financial assistance. Audits of prior years have not resulted in any significant disallowed costs; however, grantor agencies may provide for further examinations. Based on prior experience, management believes that further examinations would not result in any significant disallowed costs.
Title: Note 3: Relationship to Federal Financial Reports
Accounting Policies: The accompanying schedule of expenditures of federal awards inlcudes the federal grant activity of Community Action Development Corporation (the Organization) 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).
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Amounts reported in the accompanying schedules may not agree with the amounts reported in the related federal financial reports filed with grantor agencies because of accruals made in the schedule which will be included in future reports files with the agencies.
Title: Note 4: Indirect Costs
Accounting Policies: The accompanying schedule of expenditures of federal awards inlcudes the federal grant activity of Community Action Development Corporation (the Organization) 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).
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Note 5: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards inlcudes the federal grant activity of Community Action Development Corporation (the Organization) 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).
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization has no subrecipients