Notes to SEFA
Accounting Policies: NOTE 1 - REPORTING ENTITY BASIS OF PRESENTATION AND ACCOUNTINGThe accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Crosswalk Community Action Agency and has been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles. The information in this schedule is also 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.NOTE 2 - SUB-RECIPIENTSNone of the federal expenditures presented in the schedule were provided to sub-recipients.NOTE 3 - DESCRIPTION OF MAJOR FEDERAL PROGRAMThe objectives of the Low-Income Home Energy Assistance Program are to help low-income people meet the cost of home energy, increase their self-sufficiency, and reduce their vulnerability resulting from energy needs.NOTE 4 - NON-CASH ASSISTANCEThe Organization received and distributed commodities from the St. Louis Area Food Bank. The value of the commodities, as determined by the food bank, was $268,366 for the fiscal year 2022.NOTE 5 - INSURANCEThe federal programs presented in the previous schedule did not have separate program-specific insurance policies.NOTE 6 - LOANS/LOAN GUARANTEES/INTEREST SUBSIDIESThe federal programs presented in the previous schedule did not have any loans, loan guarantees, or interest subsidies associated with them.NOTE 7 - DE MINIMIS COST RATEThe Organization has not elected to use the 10% de minimis indirect cost rate allocation.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.