Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Piedmont Community Actions, Inc. under programs of the federal government for the year ended December 31, 2025. The information in this Schedule is presented on the accrual basis of accounting and in accordance with the requirements of the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of Piedmont Community Actions, Inc., it is not intended to and does not present the financial position or changes in net position of Piedmont Community Actions, Inc.
Expenditures are recognized following the cost principles contained in 2 CFR Part 200, Cost Principles for Nonprofit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Matching costs, i.e., the non-federal share of certain program costs, are not included in the Schedule.
Piedmont Community Actions, Inc. has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.