Notes to SEFA
Title: 1.Basis of Presentation
Accounting Policies: 2.Summary of Significant Accounting Polices Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in OMB Circular A-122, Cost Principles for Non-Profit Organization, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Partnership has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance as the Partnership already has a negotiated indirect cost rate with the federal government.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activities of Community Action Partnership and Subsidiary (collectively, the Partnership) under programs of the federal government for the year ended December 31, 2022. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Because the Schedule presents only a selected portion of the Partnerships operations, it is not intended to, and does not, present the financial position, changes in net assets, or cash flow of the Partnership.