Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) is presented on the accrual basis of accounting, which is the same basis of accounting used for financial reporting purposes. The 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). Expenditures are recognized following the cost principles contained in the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Council, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Council.
The Council is a not-for-profit corporation located in Havre, Montana. The Council is part of a national network of community agencies that were created by the federal government to combat poverty. The Council partners with various agencies to provide basic needs services within north eastern Montana.
The Council has not elected to use the 10 percent de minimis indirect cost rate method allowed under Uniform Guidance.