Notes to SEFA
Title: NOTE 3: LOAN/LOAN GUARANTEE OUTSTANDING BALANCES
Accounting Policies: The accompanying schedule of expenditures of federal/state awards includes the federal and state grant activity of Workforce Solutions Cameron 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, Audit Requirements for Federal Awards (Uniform Guidance) and the Texas Grant Management Standards. 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: Workforce Solutions Cameron has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance for the federal programs.
During the year ended September 30, 2024, Workforce Solutions Cameron did not have any federal loans or loan guarantees outstanding.
Title: NOTE 4: NONCASH ASSISTANCE AND OTHER
Accounting Policies: The accompanying schedule of expenditures of federal/state awards includes the federal and state grant activity of Workforce Solutions Cameron 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, Audit Requirements for Federal Awards (Uniform Guidance) and the Texas Grant Management Standards. 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: Workforce Solutions Cameron has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance for the federal programs.
During the year ended September 30, 2024, Workforce Solutions Cameron did not receive any noncash assistance or federally funded insurance.
Title: NOTE 5: CONTINGENCIES
Accounting Policies: The accompanying schedule of expenditures of federal/state awards includes the federal and state grant activity of Workforce Solutions Cameron 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, Audit Requirements for Federal Awards (Uniform Guidance) and the Texas Grant Management Standards. 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: Workforce Solutions Cameron has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance for the federal programs.
Grant monies received and disbursed by the Workforce Solutions Cameron are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, the organization does not believe that such disallowance, if any, would have a material effect on the financial position of Workforce Solutions Cameron.