Title: BASIS OF ACCOUNTING
Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and state award activity of Deep East Texas Local Workforce Development Board, Inc.(Corporation) under programs of the federal and state governments for the year ended September 30, 2022. 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) issued by the Texas Comptroller of Public Accounts. Because the Schedule presents only a selected portion of the operations of the Corporation, it is not intended to and does not present the financial position or changes in net assets, or cash flows of the Corporation. The Corporations reporting entity is defined in notes to the financial statements. Federal and state awards received directly from federal and state agencies, as well as federal and state awards passed through other governmental agencies, are included on the Schedule.
De Minimis Rate Used: N
Rate Explanation: The Corporation has an indirect cost allocation plan. The Corporation did not elect to use the 10% de minimis indirect cost rate.
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 and TxGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts reflected in the Schedule represent adjustments or credits resulting from the normal course of business to amounts reported as expenditures in prior years.
Title: STATE AWARDS GUIDELINES
Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and state award activity of Deep East Texas Local Workforce Development Board, Inc.(Corporation) under programs of the federal and state governments for the year ended September 30, 2022. 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) issued by the Texas Comptroller of Public Accounts. Because the Schedule presents only a selected portion of the operations of the Corporation, it is not intended to and does not present the financial position or changes in net assets, or cash flows of the Corporation. The Corporations reporting entity is defined in notes to the financial statements. Federal and state awards received directly from federal and state agencies, as well as federal and state awards passed through other governmental agencies, are included on the Schedule.
De Minimis Rate Used: N
Rate Explanation: The Corporation has an indirect cost allocation plan. The Corporation did not elect to use the 10% de minimis indirect cost rate.
State awards are subject to TxGMS requirements. Such guidelines are consistent with those required under the Uniform Guidance and Government Auditing Standards, issued by the Comptroller General of the United States.
Title: RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and state award activity of Deep East Texas Local Workforce Development Board, Inc.(Corporation) under programs of the federal and state governments for the year ended September 30, 2022. 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) issued by the Texas Comptroller of Public Accounts. Because the Schedule presents only a selected portion of the operations of the Corporation, it is not intended to and does not present the financial position or changes in net assets, or cash flows of the Corporation. The Corporations reporting entity is defined in notes to the financial statements. Federal and state awards received directly from federal and state agencies, as well as federal and state awards passed through other governmental agencies, are included on the Schedule.
De Minimis Rate Used: N
Rate Explanation: The Corporation has an indirect cost allocation plan. The Corporation did not elect to use the 10% de minimis indirect cost rate.
Amounts reported in the accompanying schedule may not agree with the amounts reported in the related federal financial reports filed with grantor agencies because of accruals made in the Schedule which will be included in future reports filed with those agencies.
Title: RECONCILIATION TO FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and state award activity of Deep East Texas Local Workforce Development Board, Inc.(Corporation) under programs of the federal and state governments for the year ended September 30, 2022. 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) issued by the Texas Comptroller of Public Accounts. Because the Schedule presents only a selected portion of the operations of the Corporation, it is not intended to and does not present the financial position or changes in net assets, or cash flows of the Corporation. The Corporations reporting entity is defined in notes to the financial statements. Federal and state awards received directly from federal and state agencies, as well as federal and state awards passed through other governmental agencies, are included on the Schedule.
De Minimis Rate Used: N
Rate Explanation: The Corporation has an indirect cost allocation plan. The Corporation did not elect to use the 10% de minimis indirect cost rate.
The reconciliation of the Schedule to grant revenues reported in the financial statements is as follows: Total federal and state awards per the Schedule $23,209,180 Program income (3,971)Vocational rehabilitation fee for service grant contracts 181,418 Summer Earn and Learn fee for service grant contract 165,575 Student Hireability Navigator fee for service grant contract 111,600 Other (794) Total grant revenues $23,663,008 The following is a reconciliation of total expenses per the financial statements to the amount reported in the Schedule: Total expenses per the financial statements $23,715,205 Capital outlay/depreciation expense (79,562) Donated facilities (50,820) Vocational rehabilitation fee for service grant contracts (276,660) Summer Earn and Learn fee for service grant contract (6,193) Student Hireability Navigator fee for service grant contract (91,820) Other (970) Total expenditures per the Schedule $23,209,180