Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Valley Alcohol Council d/b/a Merit Resource Services (the Organization) under programs of the federal government for the year ended June 30, 2025. 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 flows of the Organization.
Expenditures reported on the Schedule are reported on the accrual basis of accounting and are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The reported expenditures represent costs incurred during the fiscal year that are chargeable to the applicable federal awards.
The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance and instead charges indirect costs to federal programs in accordance with specific grant agreements or does not charge indirect costs where not permitted.