Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Bolivar County Community Action Agency, inc. under programs of the federal government for the year ended August 31, 2025. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of Bolivar County Community Action Agency, Inc., it is not inteded to and does not present the financial position, changes in net assets, or cash flows of Bolivar County Community Action Agency, Inc.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited to reimbursement. Pass-through grantor identifying numbers are presented where available.
Bolivar County Community Action Agency, Inc. utilizes a final indirect cost rate as defined by 2 CFR Part 200, Appendix IV. The Agency was initially approved for a provisional rate of 12.20%. The provisional rate is used for budgeting and interim funding purposes throughout the year. At year end, a final rate is established based on actual costs. At August 31, 2025, the Agency's final indirect cost rate calculated to 13.11%