Audit 318800

Title: NOTE 4 – LOANS OUTSTANDING Accounting Policies: NOTE 1 – BASIS OF PRESENTATION The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal and state award activity of Community Coordinated Child Care, Inc. under programs of the federal government and state agencies for the year ended December 31, 2023. 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), and the State Single Audit Guidelines. Because the Schedule presents only a selected portion of the operations of Community Coordinated Child Care, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Community Coordinated Child Care, Inc. NOTE 2 – SUMMARY OF SIGNIFICANT 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: NOTE 3 – INDIRECT COST RATE Community Coordinated Child Care, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Community Coordinated Child Care, Inc. has received the direct loan program listed below. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Community Coordinated Child Care, Inc. received no additional loans during the year. The balance of the loan outstanding at December 31, 2023 is: "See the Notes to the SEFA for chart/table"