Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: a) 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.
b) Jackson-Vinton Community Action, Inc. has elected not to use the 10 percent de
minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: b) Jackson-Vinton Community Action, Inc. has elected not to use the 10 percent de
minimus indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the
federal award activity of Jackson-Vinton Community Action, Inc. under programs of the
federal government for the year ended December 31, 2024.
The information in this Schedule is presented in accordance with the requirements of Title 2
U.S. Code of Federal Regulations (CFR) 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 Jackson-Vinton
Community Action, Inc., it is not intended to and does not present Jackson-Vinton
Community Action, Inc.'s financial position, changes in net assets, or cash flows.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: a) 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.
b) Jackson-Vinton Community Action, Inc. has elected not to use the 10 percent de
minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: b) Jackson-Vinton Community Action, Inc. has elected not to use the 10 percent de
minimus indirect cost rate as allowed under the Uniform Guidance.
a) 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.
b) Jackson-Vinton Community Action, Inc. has elected not to use the 10 percent de
minimus indirect cost rate as allowed under the Uniform Guidance.