Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or arelimited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the SEFA) includes thefederal award activity of the Terrebonne Council on Aging, Inc. (the Council) underprograms of the federal government for the year ended June 30, 2022. The informationin the SEFA is presented in accordance with the requirements of Uniform Guidance.Because the SEFA presents only a selected portion of the operation of the Council it isnot intended to and does not present the financial position, changes in net position, orcash flows of the Council.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or arelimited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Terrebonne Council on Aging, Inc. did not pass-through any of its federal awards toa subrecipient during the fiscal year.
Title: FINDINGS OF NONCOMPLIANCE
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or arelimited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no federal award findings or questioned costs reported during the audit forthe year ended June 30, 2022.