Title: NOTE A. BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements. Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: L.I. Child and Family Development Services, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. In accordance with the Federal Requirement for the Head Start program, the Agency is in compliance with the 15% maximum administrative costs.
The accompanying schedule of expenditures of federal awards (“the Schedule”) includes the federal award activity of L.I. Child and Family Development Services, Inc. (“the Agency”) under programs of the federal government for the year ended November 30, 2023. The information in the Schedule is presented in accordance with 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 L.I. Child and Family Development Services, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of L.I. Child and Family Development Services, Inc.
Title: NOTE B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements. Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: L.I. Child and Family Development Services, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. In accordance with the Federal Requirement for the Head Start program, the Agency is in compliance with the 15% maximum administrative costs.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements. Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE C INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements. Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: L.I. Child and Family Development Services, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. In accordance with the Federal Requirement for the Head Start program, the Agency is in compliance with the 15% maximum administrative costs.
L.I. Child and Family Development Services, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. In accordance with the Federal Requirement for the Head Start program, the Agency is in compliance with the 15% maximum administrative costs.
Title: NOTE D. RECONCILIATION OF FINANCIAL STATEMENTS TO FEDERAL AWARDS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements. Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: L.I. Child and Family Development Services, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. In accordance with the Federal Requirement for the Head Start program, the Agency is in compliance with the 15% maximum administrative costs.
Head Start
Head Start
One-Time
Funding
Head
Start
COVID
Early Head
Start CC
Partnership
EHSCCP
COVID CACFP
Workforce
Retention
Stabilization
Expenses per
GAAP $21,808,429 $ - $240,747 $ 2,075,428 $ 8,379 $1,101,646 $1,100,550 $1,713,993
Less: E-Rate-
In-kind (279,397) - - - - - - -
Less: E-Rate
rebate (5,791) - - - - - - -
Addback:
Capitalized
purchases of
property plant
and equipment - 92,752 225,049 - - - - -
Addback:
Inventory costs - - - - - (7,723) - -
Subtract:
Depreciation on
capitalized
items (334,336) - (7,010) - (4,889) - - -
Less: Program
income for
Route 112
Medford (25,317) - - - - - - -
Less: Change
in Prepaid
Expenses (49,162) - - - - - - -
Total grant
award 21,114,426 92,752 458,786 2,075,428 3,490 1,093,923 1,100,550 1,713,993
Less: In-kind (1,855,050) - - (87,144) - - -
Grant award $19,259,376 92,752 $458,786 $ 1,988,284 3,490 $1,093,923 $1,100,550 $1,713,993
Title: NOTE E: RECONCILATION OF EARLY HEAD START CC PARTNERSHIP
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements. Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: L.I. Child and Family Development Services, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. In accordance with the Federal Requirement for the Head Start program, the Agency is in compliance with the 15% maximum administrative costs.
The EHS-CCP has a program year of September 1, 2022 to August 31, 2023. The Schedule of
Expenditures of Federal Awards is reported on the fiscal year ended November 30, 2023. A
Schedule of reconciling the expenditures per the accompanying Schedule of Expenditures of Federal Awards to the Federal Financial Status Reports, is as follows:
Expenditures
Amount on August 31, 2023 Grant Award $ 2,054,398
Less: Expenditures for the Period September 1,
2023 – November 30, 2023 (541,884)
Add: Expenditures for the Period September 1,
2022 – November 30, 2022 475,884
Amount per Schedule of Federal Awards $ 1,988,284
Title: NOTE F. MATCHING REQUIREMENT
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements. Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: L.I. Child and Family Development Services, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. In accordance with the Federal Requirement for the Head Start program, the Agency is in compliance with the 15% maximum administrative costs.
The Head Start program met its matching requirement as follows:
Head Start
Grant period ended 8/1/2022-11/30/2023
Required Amount $2,753,591
8/1/2021 – 11/30/2022
In-kind non-cash $1,855,050
E-rate non-cash 285,188
Universal Pre-K funding 1,094,900
Program In-Kind $3,285,138
Requirement Met
EHS-CCP
Grant period ended 9/1/2022-8/31/2023
Required Amount $87,000
In-kind non-cash EHSCCP $87,144
Requirement Met