Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Central Missouri Community Action under programs of the federal government for the year ended September 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 Central Missouri Community Action, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Central Missouri Community Action.
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. However, expenditures for federal subsidy programs, which are reported in accordance with REAC PHA – Financial Accounting Brief – Accounting Issue #10. Under that guidance, federal expenditures for single audit purposes are defined as amounts received during the fiscal year.
Central Missouri Community Action has not elected to use the de minimis indirect cost rate allowed under the Uniform Guidance, the Organization does have a negotiated indirect cost rate agreement (NICRA)