Title: Note 1. Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance (the Schedule) includes the federal and state grant/contract activity for the Early Learning Coalition of Alachua County, Inc., under programs of the federal and state governments for the year ended June 30, 2022. 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) and State of Florida, Rules of the Auditor General 10.650. Because the Schedule presents only a selected portion of the operations of the Early Learning Coalition of Alachua County, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Early Leaning Coalition of Alachua County, Inc. 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. When applicable, negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years.
De Minimis Rate Used: N
Rate Explanation: The Early Learning Coalition of Alachua County, Inc., uses a cost allocation plan approved by the Florida Division of Early Learning. It is based on the employee time spent in each functional area in the preceeding month.
The accompanying schedule of expenditures of federal awards and state financial assistance (the Schedule) includes the federal and state grant/contract activity for the Early Learning Coalition of Alachua County, Inc., under programs of the federal and state governments for the year ended June 30, 2022. 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) and State of Florida, Rules of the Auditor General 10.650. Because the Schedule presents only a selected portion of the operations of the Early Learning Coalition of Alachua County, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Early Leaning Coalition of Alachua County, Inc.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance (the Schedule) includes the federal and state grant/contract activity for the Early Learning Coalition of Alachua County, Inc., under programs of the federal and state governments for the year ended June 30, 2022. 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) and State of Florida, Rules of the Auditor General 10.650. Because the Schedule presents only a selected portion of the operations of the Early Learning Coalition of Alachua County, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Early Leaning Coalition of Alachua County, Inc. 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. When applicable, negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years.
De Minimis Rate Used: N
Rate Explanation: The Early Learning Coalition of Alachua County, Inc., uses a cost allocation plan approved by the Florida Division of Early Learning. It is based on the employee time spent in each functional area in the preceeding month.
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. When applicable, negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years.
Title: Note 3. Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance (the Schedule) includes the federal and state grant/contract activity for the Early Learning Coalition of Alachua County, Inc., under programs of the federal and state governments for the year ended June 30, 2022. 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) and State of Florida, Rules of the Auditor General 10.650. Because the Schedule presents only a selected portion of the operations of the Early Learning Coalition of Alachua County, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Early Leaning Coalition of Alachua County, Inc. 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. When applicable, negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years.
De Minimis Rate Used: N
Rate Explanation: The Early Learning Coalition of Alachua County, Inc., uses a cost allocation plan approved by the Florida Division of Early Learning. It is based on the employee time spent in each functional area in the preceeding month.
The Early Learning Coalition of Alachua County, Inc., did not elect to use the 10-percent de minimis direct cost rate allowed under the Uniform Guidance.