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Lamar County Human Resources Council, Inc. <br />Notes to the Schedule of Expenditures of Federal Awards <br />September 30, 2008 <br />A. BASIS OF PRESENTATION <br />The accompanying schedule of expenditures of federal awards includes the federal grant <br />activity of Lamar County Human Resources Council, Inc. and is presented on the accrual <br />basis of accounting. The information in this schedule is presented in accordance with the <br />requirements of OMB Circular A-133, "Audits of States, Local Governments, and Non- <br />Profit Organization." Therefore, some amounts presented in this schedule may differ <br />from amounts presented in, or used in the preparation of, the basic financial statements. <br />B. MATCHING REQUIREMENTS <br />In accordance with the terms of the Title III C and Title III B grants, the organization <br />expended the 10% required matching contributions for each program. <br />C. REVENUE VERSUS EXPENSES <br />Expenditures are not specifically attributable to the following federal revenue for the <br />Section 8- Lower Income Rental Assistance; therefore, expenditures are shown on the <br />Schedule of Expenditures of Federal Awards in amounts equal to revenues for this <br />program. Actual expenses for this program amounted to $647,856. <br />D. IN-K1ND (NON-CASH) - EXPERIENCE WORKS <br />The senior community service employment program (experience works) are recorded as <br />in-kind revenue and in-kind payroll expense at its estimated fair value in the year <br />received. <br />15 <br />- 000148 <br />