Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of the Summit and Medina Workforce Area Council of Governments (the “COG”) under programs of the federal government for the year ended December 31, 2024. The information on this Schedule is prepared 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 COG, it is not intended to and does not present the financial position or changes in net position of the COG.
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
The COG has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The COG passes certain federal awards received from the U.S. Department of Labor to other governments or not-for-profit agencies (subrecipients). As Note B describes, the COG reports expenditures of Federal awards to subrecipients when paid in cash. As a subrecipient, the COG has certain compliance responsibilities, such as monitoring its subrecipients to help assure they use these subawards as authorized by laws, regulations, and the provisions of contracts or grant agreements, and that subrecipients achieve the award’s performance goals.
Certain Federal programs require the COG to contribute non-Federal funds (matching funds) to support the Federally-funded programs. The COG has met its matching requirements. The Schedule does not include the expenditure of non-Federal matching funds.