Notes to SEFA
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Head Start of Yamhill County 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 Head Start of Yamhill County, it is not intended to and does not present the financial position, changes in net assets or cash flows of Head Start of Yamhill County.
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: Head Start of Yamhill County has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Head Start of Yamhill County did not use any subrecipients for the year ended June 30, 2023.
Title: Balance of Outstanding Loans
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Head Start of Yamhill County 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 Head Start of Yamhill County, it is not intended to and does not present the financial position, changes in net assets or cash flows of Head Start of Yamhill County.
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: Head Start of Yamhill County has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The loan programs listed subsequently are administered directly by Head Start of Yamhill County, Inc., and balances and transactions relating to the program are included in Head Start of Yamhill County's basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at June 30, 2023, consist of:
Program Name AL Number Outstanding Balance at June 30, 2023
Community Facility Loans and Grants 10.766 $376,818