Audit 319576

Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of The Early Childhood Council of Boulder County (the Organization), under programs of the federal government for the year ended December 31 2023 in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (the 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. Basis of Accounting 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 allowed are limited as to reimbursement. Indirect Cost Rate The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: Y Rate Explanation: Organization uses 10% as agreed upon with Federal awarding agency. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of The Early Childhood Council of Boulder County (the Organization), under programs of the federal government for the year ended December 31 2023 in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (the 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. Basis of Accounting 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 allowed are limited as to reimbursement. Indirect Cost Rate The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance

Title: SUBRECIPIENTS Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of The Early Childhood Council of Boulder County (the Organization), under programs of the federal government for the year ended December 31 2023 in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (the 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. Basis of Accounting 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 allowed are limited as to reimbursement. Indirect Cost Rate The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: Y Rate Explanation: Organization uses 10% as agreed upon with Federal awarding agency. The Organization has not passed any of their grants through to subrecipient organizations.