Notes to SEFA
The accompanying schedule of expenditures of federal, state, and other awards (the Schedule) includes the federal and state award activity of Community Action Corporation of South Texas (“CACOST”) under federal and state programs for the year ended January 31, 2026. The information in the 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) and the Texas Grant Management Standards (TxGMS). Because the Schedule presents only a selected portion of the operations of CACOST, it is not intended to and does not present the financial position, changes in net assets or cash flows of CACOST.
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, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
CACOST has elected not to use the de minimis indirect cost rate of up to 15 percent of modified total direct costs permitted under the Uniform Guidance.