Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESa) Expenditures reported on the Schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principles containedin the Uniform Guidance, wherein certain types of expenditures are not allowable orare limited as to reimbursement.b) Jackson-Vinton Community Action, Inc. has elected not to use the 10 percent deminimus indirect cost rate as allowed under the Uniform Guidance.
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 "Schedule") includes thefederal award activity of Jackson-Vinton Community Action, Inc. under programs of thefederal government for the year ended December 31, 2022.The information in this Schedule is presented in accordance with the requirements of Title 2U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance").Because the Schedule presents only a selected portion of the operations of Jackson-VintonCommunity Action, Inc., it is not intended to and does not present Jackson-VintonCommunity Action, Inc.'s financial position, changes in net assets, or cash flows.