Notes to SEFA
The accompanying Schedule of Expenditures of Federal and State Awards include the federal grant activity of Community Action Agency of Oklahoma City and Oklahoma/Canadian Counties, Inc. (the Agency), and 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 Regulations Part 200, "Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards" (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Agency, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Agency.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Agency has elected not to use the 10 percent de minimis cost rate as allowed under the Uniform Guidance.