Notes to SEFA
Title: Non-Cash Assistance, Insurance, and Loans
Accounting Policies: The schedule of expenditures of federal awards includes the federal award activity of Clay County Child Care
Center, Inc. (the Organization) under programs of the federal government for the year ended June 30, 2023.
The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Regulations (CFR) 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 Organization, it is not intended to and does not present the statement of financial position, statement of
activities, or cash flows of the Organization.
Expenditures on the schedule are reported on the accrual basis of accounting, modified to include capitalized
assets and to exclude depreciation expense. Such expenditures are recognized following the cost principles
contained in the Uniform Guidance, or other applicable regulatory guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate provisioned by the Uniform
Guidance Section 414, for reporting costs charged to federal award programs.
The Organization did not receive or expend any Federal awards in the form of noncash assistance, insurance,
loans, or loan guarantees.
Title: Subrecipients
Accounting Policies: The schedule of expenditures of federal awards includes the federal award activity of Clay County Child Care
Center, Inc. (the Organization) under programs of the federal government for the year ended June 30, 2023.
The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Regulations (CFR) 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 Organization, it is not intended to and does not present the statement of financial position, statement of
activities, or cash flows of the Organization.
Expenditures on the schedule are reported on the accrual basis of accounting, modified to include capitalized
assets and to exclude depreciation expense. Such expenditures are recognized following the cost principles
contained in the Uniform Guidance, or other applicable regulatory guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate provisioned by the Uniform
Guidance Section 414, for reporting costs charged to federal award programs.
The Organization did not provide any federally sourced funding or assistance to subrecipients.