Notes to SEFA
Title: Reporting Entity
Accounting Policies: Note 1 Purpose of ScheduleThe accompanying schedule of expenditures of federal awards (the Schedule) is asupplementary schedule to Southwestern Oregon Workforce Investments Boards (theBoards) financial statements and is presented for purposes of additional analysis.Because the Schedule presents only a selected portion of the activities of the Board, itdoes not present the financial position, changes in financial position, or the revenues andexpenditures of the Board.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The reporting entity is described in Note A to the Boards financial statements. TheSchedule includes all federal programs administered by the Board for the fiscal yearended June 30, 2022.
Title: Basis of Accounting
Accounting Policies: Note 1 Purpose of ScheduleThe accompanying schedule of expenditures of federal awards (the Schedule) is asupplementary schedule to Southwestern Oregon Workforce Investments Boards (theBoards) financial statements and is presented for purposes of additional analysis.Because the Schedule presents only a selected portion of the activities of the Board, itdoes not present the financial position, changes in financial position, or the revenues andexpenditures of the Board.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
This schedule is prepared on the same basis of accounting as the Boards financialstatements. The Board uses the accrual basis of accounting for financial reportingpurposes.
Title: Basis of Presentation
Accounting Policies: Note 1 Purpose of ScheduleThe accompanying schedule of expenditures of federal awards (the Schedule) is asupplementary schedule to Southwestern Oregon Workforce Investments Boards (theBoards) financial statements and is presented for purposes of additional analysis.Because the Schedule presents only a selected portion of the activities of the Board, itdoes not present the financial position, changes in financial position, or the revenues andexpenditures of the Board.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The information in the Schedule is presented in accordance with Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards 2 CFR 200(Uniform Guidance).