Notes to SEFA
Accounting Policies: A.Reporting EntityThe Valley AIDS Council, Inc.s (VAC) Schedule of Expenditures of Federal Awards (Schedule) includes the activity of all federal and state award programs administered by the primary government. The VACs reporting entity is defined in Note 1 of the basic financial statements. Federal and state awards received directly from federal and state agencies, as well as awards passed through other government agencies, are included on the Schedule of Expenditures of Federal and State Awards.B.Basis of PresentationThe Schedule presents the total federal awards expended for each federal and state program during the fiscal year ended on August 31, 2022. The information in the Schedule is presented in accordance with the requirements of OMB Uniform Guidance.Federal award program titles are reported as presented in the Catalog of Federal Domestic Assistance (CFDA). Federal award programs include expenditures and pass-throughs to VAC from state agencies or institutions of higher education.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.