Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: SEE FORM
De Minimis Rate Used: N
Rate Explanation: NotesToSefa
THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (THE SCHEDULE) INCLUDES THE FEDERAL AWARD ACTIVITY OF HEART OF GEORGIA COMMUNITY ACTION COUNCIL, INC. UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE YEAR ENDED MAY 31, 2023. 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 RQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUIDANCE). BECAUSE THE SCHEDULE PRESENTS ONLY A SELECTED PORTION OF THE OPERATIONS OF HEART OF GEORGIA COMMUNITY ACTION COUNCIL, INC. IT IS NOT INTENTED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET ASSETS, OR CASH FLOWS OF HEART OF GEORGIA COMMUNITY ACTION COUNCIL, INC.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SEE FORM
De Minimis Rate Used: N
Rate Explanation: NotesToSefa
(1) 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. (2) PASS-THROUGH ENTITY NUMBERS ARE PRESENTED WHERE AVAILABLE.
Title: INDIRECT COST RATE
Accounting Policies: SEE FORM
De Minimis Rate Used: N
Rate Explanation: NotesToSefa
THE AGENCY HAS ELECTED NOT USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE OR ANY OTHER INDIRECT COST RATE.