Notes to SEFA
Title: NOTE 3 RECONCILIATION OF SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS T
Accounting Policies: NOTE 1 BASIS OF ACCOUNTING The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of CAC under programs of the federal government for the year ended June 30, 2022. The information in this 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). Because the Schedule presents only a selected portion of the operations of CAC, it is not intended to and does not present the financial position, changes in net assets or cash flows of CAC. NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: CAC has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Federal grant revenue as shown on the statement of activities2022 $ 2,906,969 Add: USDA reimbursement as shown on the statement of activities $ 347,640 Add: TEFAP food commodities included in in-kind contributionson the statement of activities $ 341,675 Total 2022 Expenditures on the Schedule of Expenditures of Federal Awards $ 13,596,284