Notes to SEFA
The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Consortium’s government-wide financial statements, which are prepared using Generally Accepted Accounting Principles (GAAP).
The Consortium uses the deductive method to report program income. This method requires the grantee to use the income as an offset against expenditures before requesting additional grant funding. The method reports the net of revenues less expenditures as program income. The gross amount of income applied toward WIOA grant costs was zero for the year ended December 31, 2024.
The Consortium has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.