Title: Note 1. Basis of Presentation
Accounting Policies: (a)Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, Cost Principles forNon-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. (b)Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization allocates indirect costs by program and has not utilized the 10% de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards (“the Schedule”) includes the federal grant activity of the Organization under programs of the federal government for the year ended January 31, 2024. 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 the Organization it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Organization.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: (a)Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, Cost Principles forNon-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. (b)Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization allocates indirect costs by program and has not utilized the 10% de minimis indirect cost rate.
(a)Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, Cost Principles forNon-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: (a)Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, Cost Principles forNon-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. (b)Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization allocates indirect costs by program and has not utilized the 10% de minimis indirect cost rate.
(b)Pass-through entity identifying numbers are presented where available.
Title: Note 3. Indirect Cost Rate
Accounting Policies: (a)Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, Cost Principles forNon-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. (b)Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization allocates indirect costs by program and has not utilized the 10% de minimis indirect cost rate.
The Organization allocates indirect costs by program and has not utilized the 10% de minimis indirect cost rate.
Title: Note 4 Pass-Through State Agencies
Accounting Policies: (a)Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, Cost Principles forNon-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. (b)Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization allocates indirect costs by program and has not utilized the 10% de minimis indirect cost rate.
Expenditures of federal awards for funds passed through state agencies is based on information provided by the Commonwealth of Massachusetts Operational Services Division.
Title: Note 5. Sub-recipient expenditures
Accounting Policies: (a)Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, Cost Principles forNon-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. (b)Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization allocates indirect costs by program and has not utilized the 10% de minimis indirect cost rate.
The Organization does not have any sub-recipient expenditures.
Title: Note 6. Correction on SEFA for Prior Year
Accounting Policies: (a)Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, Cost Principles forNon-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. (b)Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization allocates indirect costs by program and has not utilized the 10% de minimis indirect cost rate.
During the course of our audit, we noted that the SEFA for the prior year identified $4,920,789 as amounts from a federally funded Head Start program, when in fact it was only $4,313,106. The difference of $607,683 was funds received from the Commonwealth of Massachusetts.