Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Accrual basis of accounting; recognition of allowable expenditures according to Uniform Guidance and OMB Circular A-122
De Minimis Rate Used: N
Rate Explanation: Healthy Start has elected not to use the 10% de minimis indirect cost rate.
Child and Adult Care Food Program is Healthy Start's only major program. The information in this schedule is presented in accordance with the requirements of Title 2,U.S. Code of Federal Regulations, Part 200. Because the schedule presents only a selected portion of the operations of Healthy Start, it is not intended to and does not present the financial position, changes in net assets or cash flows of Healthy Start.
Title: Summary of Significant Accounting Policies
Accounting Policies: Accrual basis of accounting; recognition of allowable expenditures according to Uniform Guidance and OMB Circular A-122
De Minimis Rate Used: N
Rate Explanation: Healthy Start has elected not to use the 10% de minimis indirect cost rate.
Expenditures reported on this schedule are reported on the accrual basis of accounting. Expenditures of the Child and Adult Care Food Program are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-122, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The agency reflects day care center payments received from the pass-through entity for disbursement to day care centers (subrecipients) as a liability (Claims payable-day care centers) in the Statement of Financial Position. The agency reflects administrative grant revenues and expenses in the Statement of Activities.