Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the federal award expenditures disbursed by Workforce, Inc. d/b/a RecycleForce received from the federal government for the year ended June 30, 2025. For the purpose of the Schedule, federal awards include pass-through funds from grants and contracts entered into directly between Workforce, Inc. d/b/a RecycleForce and state or local agencies, and departments of the federal government, or other organizations. The information in this 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). Because the Schedule presents only a selected portion of the operations of Workforce, Inc. d/b/a RecycleForce and Subsidiaries, it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows of Workforce, Inc. d/b/a RecycleForce and Subsidiaries. We have audited the consolidated financial statements of Workforce, Inc. d/b/a RecycleForce and Subsidiaries as of and for the year ended June 30, 2025. The Organization consists of multiple entities, as discussed in Note 1 to the consolidated financial statements. Our audit of compliance, which follows, only includes the federal grant activity of Workforce, Inc. d/b/a RecycleForce. The Schedule does not include federal award expenditures disbursed by subsidiaries of Workforce, Inc. d/b/a Recycle Force. A consolidated entity (Keys 2 Work, Inc.) is subject to the Uniform Guidance on an individual basis. Inventory Materials and supplies are charged to expense during the period of purchase. As a result, no inventory is recognized for these items in the accompanying consolidated financial statements.
The preparation of the Schedule of Expenditures of Federal Awards requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses. Actual results could differ from those estimates.