Notes to SEFA
Basis of Presentation: The accompanying schedule of expenditures of federal and state awards includes the federal and state award activity of Panhandle Community Services under programs of the federal government and the State of Texas for the year ended December 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 (Uniform Guidance), except for subsidy programs, which follow REAC PHA - Financial Accounting Brief - Accounting Issue #10, which defines a federal award expended for single audit purposes as when dollars are received and the Texas Grant Management Standards (TxGMS), issued by the Texas Comptroller of Public Accounts.
Federal expenditures are recognized in accordance with the applicable requirements of the Uniform Guidance. State expenditures are recognized in accordance with applicable state laws and rules, TxGMS when applicable, and the terms and conditions of the respective state awards.
Indirect Cost Rate: Panhandle Community Services has not elected to use the de minimis indirect cost rate allowed under the Uniform Guidance. The Organization does have a negotiated indirect cost agreement (NICRA).