Audit 260

Accounting Policies: General The accompanying schedule of expenditures of federal awards includes the federal grant activity of Early Childhood Council of Larimer County, Inc. All federal financial assistance received by the reporting entity directly from federal agencies, as well as federal financial assistance passed through other agencies, is included on the schedule. Basis of Presentation The accompanying schedule of expenditures of federal awards 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 (CFR) 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. As the schedule presents only a selected portion of the operations of Early Childhood Council of Larimer County, Inc., it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of Early Childhood Council of Larimer County, Inc. De Minimis Rate Used: Y Rate Explanation: Early Childhood Council of Larimer County, Inc. elected to utilize the 10% de minimis indirect cost rate during the year ended June 30, 2023.