Notes to SEFA
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award
activity of New Community Employment Services Corporation under programs of the federal government
for the year ended December 31, 2024. The information in the 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 the New Community Employment
Services Corporation, it is not intended to and does not present the financial position, changes in net
assets, or cash flows of New Community Employment Services Corporation.
De Minimis Rate Used: Y
Rate Explanation: New Community Employment Services Corporation does not have a federally negotiated indirect cost rate
on its federal contracts and New Community Employment Services Corporation has not made an election
pursuant to Uniform Guidance to receive a 10% de minimis cost rate.
Expenditures reported on the Schedule are reported on the accounting principles generally accepted in the
United States of America 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: SUB-RECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award
activity of New Community Employment Services Corporation under programs of the federal government
for the year ended December 31, 2024. The information in the 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 the New Community Employment
Services Corporation, it is not intended to and does not present the financial position, changes in net
assets, or cash flows of New Community Employment Services Corporation.
De Minimis Rate Used: Y
Rate Explanation: New Community Employment Services Corporation does not have a federally negotiated indirect cost rate
on its federal contracts and New Community Employment Services Corporation has not made an election
pursuant to Uniform Guidance to receive a 10% de minimis cost rate.
New Community Employment Services Corporation provided no federal awards to sub-recipients for the
year ended December 31, 2024.