Notes to SEFA
The accompanying schedule of expenditure of federal awards includes the federal awards activity of Community Access Network Non Profit Corporation under programs of the federal government for the year ended June 30, 2025. The information in this schedule of expenditures of federal awards is presented in accordance with the requirements of the Uniform Guidance for Federal Awards. Because the schedule present only a selected portion of the operations of Community Access Network Non Profit Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Community Access Network Non Profit Corporation.
Expenditures reported on the schedule of expenditure of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Community Access Network Non Profit Corporation has elected to not use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance for Federal Awards.