Notes to SEFA
This schedule of expenditures of federal awards includes the federal award activity of MEOC 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 Requirement, Cost Principles, and Audit requirements for Federal Awards ( Uniform Guidance).
Because the Schedule presents only a selected portion of the operations of MEOC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Mountain Empire Older Citizens, Inc.
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 and OMB Circular A-122, Cost Principles for Non-Profit Organizations wherein certain types of expenditures are not allowable or are limited as to reimbursement.
MEOC has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance