Notes to SEFA
Expenditures reporting in this Schedule are reporting on the accrual basis of accounting. Such expenditures are recognized following the cost principles of the Uniform Grant Guidance, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented where available.
The accompanying Schedule of Expenditures of Federal Awards ("Schedule") includes the federal grant activity of Big Sandy Area Community Action Program for the year ended October 31, 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. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Big Sandy Community Action Program has elected to use the de minimis indirect cost rate as permitted under 2 CFR §200.414(f) of the Uniform Guidance. For federal awards made prior to October 1, 2024, the Agency applies a 10 percent rate to modified total direct costs (MTDC). For federal awards made or modified on or after October 1, 2024, the Agency has elected to apply the revised 15 percent de minimis rate, consistent with the updated provisions of the Uniform Guidance. This election applies only to federal awards where the de minimis rate is allowable.