Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on this schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: RKCAA has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal, state and local awards (the schedule) includes the federal,state and local grant activity of Racine Kenosha Community Action Agency, Inc. (RKCAA) under programs of the federal, state and local government, and other entities for the year ended December 31, 2024. The information in this schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State Single Audit Guidelines. Because the schedule presents only a selected portion of operations of RKCAA, it is not intended to and does not present the financial position, changes in net assets or cash flows of RKCAA.