Notes to SEFA
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the CCS Early Learning under programs of the federal government for the year ended July 31, 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). Because the Schedule presents only a selected portion of the operations of the CCS Early Learning, it is not intended to and does not present the basic financial statements of the CCS Early Learning.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule are reported on the modified 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. Negative amounts, if any, shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the CCS Early Learning under programs of the federal government for the year ended July 31, 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). Because the Schedule presents only a selected portion of the operations of the CCS Early Learning, it is not intended to and does not present the basic financial statements of the CCS Early Learning.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The CCS Early Learning has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform guidance.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the CCS Early Learning under programs of the federal government for the year ended July 31, 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). Because the Schedule presents only a selected portion of the operations of the CCS Early Learning, it is not intended to and does not present the basic financial statements of the CCS Early Learning.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The CCS Early Learning did not pass any federal funds through to subrecipients during the year ended July 31, 2022.