Notes to SEFA
Accounting Policies: NOTE A- BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federalaward activity of Job Training for Beaver County, Inc. (the Entitys) under programs of the federalgovernment for the year ended June 30, 2021. The information on this Schedule is prepared inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion of the operations of the Entity, it is notintended to and does not present the financial position, changes in net position, or cash flows of theEntity.NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,wherein certain types of expenditures may or may not be allowable or may be limited as toreimbursement. The Entity has elected not to use the 10-percent de minimis indirect cost rate as allowedunder the Uniform Guidance.15
De Minimis Rate Used: N
Rate Explanation: Passthrough