Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The Agency has elected not to use the deminimis cost rate.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of the Baraga-Houghton-Keweenaw Community Action Agency, Inc. (the "Agency") under programs of the federal government for the year ended September 30, 2023. 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 the Agency, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Agency.
Title: Summary of Significant Account Policies
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The Agency has elected not to use the deminimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the Agency's financial statements. 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. Instances where the passthrough entity did not provide an identifying number are designated as n/a
Title: Indirect Cost
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The Agency has elected not to use the deminimis cost rate.
For purposes of charging indirect costs to federal awards, the Agency has elected to not use the 10 percent deminimis cost rate as permitted by §200.414 of the Uniform Guidance
Title: Pass-Through Agencies
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The Agency has elected not to use the deminimis cost rate.
The Agency receives certain federal grants as subawards from non-federal entities. Pass-through entities, where applicable, have been identified in the Schedule with an abbreviation, defined as follows: MDE - Michigan Department of Education / MDHHS - Michigan Department of Health & Human Services / UPCAP - Upper Peninsula Commission for Area Progress / UW - United Way/MSHDA-Michigan State Housing Development Authority
Title: Subrecipients
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The Agency has elected not to use the deminimis cost rate.
There were no awards passed through to subrecipients