Notes to SEFA
Title: Basis of presentation
Accounting Policies: Expenditures reported on the schedule are reported using the same accounting policies as the generalpurpose
financial statements. Readers should refer to the notes to the financial statements for more detail. 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.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Schedule of Federal Awards presents the activity of all federal financial assistance and federal costreimbursement
contracts of Laramie Child Development Corporation (the Corporation) 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 Corporation, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Corporation.
Title: Indirect cost rules
Accounting Policies: Expenditures reported on the schedule are reported using the same accounting policies as the generalpurpose
financial statements. Readers should refer to the notes to the financial statements for more detail. 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.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Corporation has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Major programs
Accounting Policies: Expenditures reported on the schedule are reported using the same accounting policies as the generalpurpose
financial statements. Readers should refer to the notes to the financial statements for more detail. 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.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The major programs are identified in the Summary of Auditors’ Results section of the Schedule of Findings and Questioned Costs.
Title: Summary of significant accounting policies
Accounting Policies: Expenditures reported on the schedule are reported using the same accounting policies as the generalpurpose
financial statements. Readers should refer to the notes to the financial statements for more detail. 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.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the schedule are reported using the same accounting policies as the general purpose financial statements. Readers should refer to the notes to the financial statements for more detail. 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.
Title: Subrecipients
Accounting Policies: Expenditures reported on the schedule are reported using the same accounting policies as the generalpurpose
financial statements. Readers should refer to the notes to the financial statements for more detail. 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.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Laramie Child Development Corporation has no subrecipients during the year ended October 31, 2023.