Title: RELATIONSHIP OF SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS TO FINANCIAL STA
Accounting Policies: 1.BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Los Angeles Conservation Corps, Inc. (the Organization) and is presented using the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance for the year ended June 30, 2022; and instead allocated indirect costs in accordance with its cost allocation plan as allowed by the federal grant programs under Uniform Guidance.
3.Federal financial assistance is reported in the financial statements of the Organization for the year ended June 30, 2022 as follows:Total Program ExpendituresFEDERAL GRANTOR / Pass-through Grantor / Program Title Funded by Federal AwardsFunded by Donations and OtherTotalConservation$973,110$13,829,578$ 14,802,688After School Programs189,7593,758,5123,948,271Corpsmember Development277,080787,7691,064,849Total expenditure of programs and federal awards $1,439,949 $18,375,859$19,815,808
Title: 4.PASS-THROUGH AWARDS
Accounting Policies: 1.BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Los Angeles Conservation Corps, Inc. (the Organization) and is presented using the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance for the year ended June 30, 2022; and instead allocated indirect costs in accordance with its cost allocation plan as allowed by the federal grant programs under Uniform Guidance.
The Organization receives federal awards from pass-through agencies. The total amount of such pass-through awards is included on the Schedule.
Title: 5.MATCHING FUNDS
Accounting Policies: 1.BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Los Angeles Conservation Corps, Inc. (the Organization) and is presented using the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance for the year ended June 30, 2022; and instead allocated indirect costs in accordance with its cost allocation plan as allowed by the federal grant programs under Uniform Guidance.
During the year ended June 30, 2022, matching funds were as follows for these contracts:NameContract NumberMatching ExpenseAmericorps Youthbuild FY 21/22*$9,828Americorps Youthbuild FY 20/21 * 24,962US Fish and Wildlife Service El Segundo Blue ButterflyF17AC0062522,114Coalition for Responsible Community Development*10,000Total$66,904* Not provided