Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and state grant activity of Early Learning Coalition of Marion County, Inc., and is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Coalition charges direct costs to the grant. Indirect costs are allocated based on payroll of each program.
The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and state grant activity of Early Learning Coalition of Marion County, Inc., and is presented on 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; and Chapter 10.650, Rules of the Auditor General. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the financial statements.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and state grant activity of Early Learning Coalition of Marion County, Inc., and is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Coalition charges direct costs to the grant. Indirect costs are allocated based on payroll of each program.
The Early Learning Coalition of Marion County, Inc. has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.