Notes to SEFA
Title: Relationship to Federal Financial Reports
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal award activity of Allen Action Agency, Inc. under programs of the federal government for the
year ended June 30, 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 Requirements for Federal Awards (Uniform Guidance).
Because the Schedule presents only a selected portion of the operations of the Allen Action Agency,
Inc., it is not intended to and does not present the financial position, changes in net assets, or cash
flows of Allen Action Agency, Inc.
Summary of Significant Accounting Policies
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.
De Minimis Rate Used: N
Rate Explanation: The Allen Action Agency, Inc. has not elected to use the 10% de minimus indirect cost rate
as allowed under the Uniform Guidance.
A reconciliation of total expenditures of federal awards reported in the schedule of
expenditures of federal awards to total expenses per statement of functional expenses is as follows:
Total expenses per statement of activities $ 2,057,960
Less: In-kind contributions (331,496)
Depreciation (101,112)
Non-federal expense (57,916)
Total expenditures per schedule of federal awards $ 1,567,436