Notes to SEFA
Title: NOTE 3 INDIRECT COST RATE
Accounting Policies: This schedule is prepared on the same basis of accounting as the Pacific Mountain Workforce Development Councils (PacMtn) financial statements. PacMtn uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: PacMtn has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
PacMtn allocates indirect costs to programs each month based on the direct labor costs incurred by that program that month. During the year ended June 30, 2022, $748,041 in indirect program costs and $592,251 in indirect admin costs were allocated to programs based on $2,126,942 direct labor costs. PacMtn has an approved provisional indirect cost rate of 68.56% from Washington State Employment Security Department. This rate is used for planning purposes and amounts charged are based on actuals.
Title: NOTE 4 PROGRAM COSTS
Accounting Policies: This schedule is prepared on the same basis of accounting as the Pacific Mountain Workforce Development Councils (PacMtn) financial statements. PacMtn uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: PacMtn has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including PacMtns portion, are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.