Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal activity of Redwood Community Action Agency, Inc. (the Organization) for the year ended December 31, 2024, and is presented using the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. The Organization received federal awards that were passed through from various governmental agencies, which are included on the Schedule of Federal Awards.
Expenditures reported on the Schedule of Expenditures of Federal Awards are reported using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Subpart E - Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization's significant accounting policies are presented in Note B in the Organization's basic financial statements.
The amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with the amounts reported within the financial statements.
The Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The outstanding balance of loan and loan guarantee programs at December 31, 2024, with continuing compliance requirements which are reported as federal expenditures on the accompanying schedule of expenditures of federal awards was $2,322,432.
There were no awards passed through to subrecipients during the year ended December 31, 2024.