Title: Note 1 - Basis of Presentation
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Basis of Presentation: 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Revenue Recognition:
Contract and grant revenue from governmental agencies and other grantors are recognized when compliance with the various contract and grant requirements is achieved. Usually this occurs at the time the expenditures are made and any contract or grant matching requirements are met.
Note 3 – Indirect Cost Rate: WCCAC has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Note 4 – Revenue Reconciliation:
During the fiscal year ended September 30, 2024, grants revenue is composed of the following:
Federal grants $ 1,212,311
State grants 695,638
City grants 230,500
Local government grants 151,342
Other grants 524,255
Total grants revenue $ 2,814,046
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates were used as allowed by the specific grants
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note 2 - Summary of Significant Accounting Policies - Basis of Presentation
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Basis of Presentation: 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Revenue Recognition:
Contract and grant revenue from governmental agencies and other grantors are recognized when compliance with the various contract and grant requirements is achieved. Usually this occurs at the time the expenditures are made and any contract or grant matching requirements are met.
Note 3 – Indirect Cost Rate: WCCAC has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Note 4 – Revenue Reconciliation:
During the fiscal year ended September 30, 2024, grants revenue is composed of the following:
Federal grants $ 1,212,311
State grants 695,638
City grants 230,500
Local government grants 151,342
Other grants 524,255
Total grants revenue $ 2,814,046
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates were used as allowed by the specific grants
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognize following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note 2 - Summary of Significant Accounting Policies - Revenue Recognition
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Basis of Presentation: 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Revenue Recognition:
Contract and grant revenue from governmental agencies and other grantors are recognized when compliance with the various contract and grant requirements is achieved. Usually this occurs at the time the expenditures are made and any contract or grant matching requirements are met.
Note 3 – Indirect Cost Rate: WCCAC has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Note 4 – Revenue Reconciliation:
During the fiscal year ended September 30, 2024, grants revenue is composed of the following:
Federal grants $ 1,212,311
State grants 695,638
City grants 230,500
Local government grants 151,342
Other grants 524,255
Total grants revenue $ 2,814,046
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates were used as allowed by the specific grants
Contract and grant revenue from governmental agencies and other grantors are recognized when compliance with the various contract and grant requirements is achieved. Usually this occurs at the time the expenditures are made and any contract or grant matching requirements are met.
Title: Note 3 - Indirect Cost Rate
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Basis of Presentation: 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Revenue Recognition:
Contract and grant revenue from governmental agencies and other grantors are recognized when compliance with the various contract and grant requirements is achieved. Usually this occurs at the time the expenditures are made and any contract or grant matching requirements are met.
Note 3 – Indirect Cost Rate: WCCAC has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Note 4 – Revenue Reconciliation:
During the fiscal year ended September 30, 2024, grants revenue is composed of the following:
Federal grants $ 1,212,311
State grants 695,638
City grants 230,500
Local government grants 151,342
Other grants 524,255
Total grants revenue $ 2,814,046
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates were used as allowed by the specific grants
WCCAC has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 4 - Revenue Reconciliation
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Basis of Presentation: 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Revenue Recognition:
Contract and grant revenue from governmental agencies and other grantors are recognized when compliance with the various contract and grant requirements is achieved. Usually this occurs at the time the expenditures are made and any contract or grant matching requirements are met.
Note 3 – Indirect Cost Rate: WCCAC has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Note 4 – Revenue Reconciliation:
During the fiscal year ended September 30, 2024, grants revenue is composed of the following:
Federal grants $ 1,212,311
State grants 695,638
City grants 230,500
Local government grants 151,342
Other grants 524,255
Total grants revenue $ 2,814,046
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates were used as allowed by the specific grants
See the notes to the SEFA for chart/table