Notes to SEFA
Title: NOTE 1: GENERAL
Accounting Policies: The accompanying schedule of expenditures of federal awards of Empower Yolo, Inc. is presented on the accrual basis of
accounting. 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).
De Minimis Rate Used: Y
Rate Explanation: Empower Yolo, Inc. has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance
programs of Empower Yolo, Inc. under programs of the Federal Government for the year ended June 30, 2024. Because the
schedule presents only a selected portion of the operations of Empower Yolo, Inc., it is not intended to and does not present
the financial position, changes in net assets, or cash flows of Empower Yolo, Inc.
Title: NOTE 3: CLAIMS
Accounting Policies: The accompanying schedule of expenditures of federal awards of Empower Yolo, Inc. is presented on the accrual basis of
accounting. 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).
De Minimis Rate Used: Y
Rate Explanation: Empower Yolo, Inc. has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Empower Yolo, Inc. has received federal grants for specific purposes that are subject to review and audit by the Federal
Government. Although such audits could result in expenditure disallowance under grant terms, any required reimbursements
are not expected to be material which have not already been recorded.