Notes to SEFA
Title: NOTE 2: MAJOR PROGRAMS
Accounting Policies: The modified accrual basis is used for the Schedule of Expenditures of Federal Awards. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). Measurable means the amount can be determined and available means collectible within the current period or soon enough thereafter to be sued to pay liabilities for the current period. Expenditures are recorded when the liability in incurred. Community Action Committee of Victoria, Texas has elected not to use the 10% de minimis cost rate as covered by paragraph 200.414 of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Major programs are identified in the Summary of Auditors Results section of the Schedule of Findings and Questioned Costs.
Title: NOTE 3: PASS THROUGH TO SUBRECIPIENTS
Accounting Policies: The modified accrual basis is used for the Schedule of Expenditures of Federal Awards. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). Measurable means the amount can be determined and available means collectible within the current period or soon enough thereafter to be sued to pay liabilities for the current period. Expenditures are recorded when the liability in incurred. Community Action Committee of Victoria, Texas has elected not to use the 10% de minimis cost rate as covered by paragraph 200.414 of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There are no awards passed through to subrecipients.