Notes to SEFA
The accompanying Schedule of Expenditures of Federal and State Awards includes the federal grant activity of the Southwest Oklahoma Community Action Group, Inc. (the Organization). 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flow of the Organization.
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 Organization has elected to use the 15 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
At September 30, 2025, the Organization had an outstanding loan balance of $92,890 from the U.S Department of Agriculture. The loan program is the Rural Development Grants – Farm Labor Housing Loan, CFDA number 10.405 and is included in fund 970 on the Combining Schedule of Revenues, Expenses, and Changes in Net Assets.