Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Valley Area Agency on Aging has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance, except for grants under the Medicaid cluster.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Valley Area Agency on Aging under programs of the federal government for the year ended September 30, 2024. 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 Valley Area Agency on Aging, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Valley Area Agency on Aging.
Title: Reconciliation to the Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Valley Area Agency on Aging has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance, except for grants under the Medicaid cluster.
See Note 3 on the Notes to the Schedule of Expenditures of Federal Awards
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Valley Area Agency on Aging has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance, except for grants under the Medicaid cluster.
No amounts were provided to subrecipients