Notes to SEFA
Title: Subrecipients
Accounting Policies: Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards include the federal grant activity of the Lafayette Council on Aging, Inc.
and has been prepared using the modified accrual basis of accounting as contemplated under generally accepted accounting principles and which is the same basis
of accounting used for presenting the fund financial statements. The information in this schedule is presented in accordance with the requirements of the OMB Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this
schedule may differ from amounts presented, or used in the presentation of, the financial statements of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Council has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Lafayette Council on Aging did not pass-through any of its federal awards to a sub-recipient during the fiscal year.