Title: BASIS OF PRESENTATION
Accounting Policies: Basis of Accounting: Expenditures reported on the Schedule are presented in accordance with the requirements of Uniform Guidance and the State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Property and Equipment: In accordance with grant award budgets, property, and equipment purchased with grant award funds are charged to expense in the period of purchase instead of being depreciated over their useful lives. As a result, property and equipment purchased during the period are included as expenses while depreciation is excluded as an expense in the schedule of expenditures of federal and state awards. In addition, sale proceeds from disposal of property and equipment paid for by grant funds are considered program income and offset Corporation expenses while only the net gain on sale is reported as income in the statement of activities. Volunteer Services: Services provided by volunteers meet the definition for in-kind expenses for grant purposes but are not considered expenses for financial statements reporting purposes.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and state award activity of National Centers for Learning Excellence, Inc. under programs of the federal and state government for the eleven-month period ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 the Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of National Centers for Learning Excellence, Inc.
Title: MATCHING REQUIREMENTS
Accounting Policies: Basis of Accounting: Expenditures reported on the Schedule are presented in accordance with the requirements of Uniform Guidance and the State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Property and Equipment: In accordance with grant award budgets, property, and equipment purchased with grant award funds are charged to expense in the period of purchase instead of being depreciated over their useful lives. As a result, property and equipment purchased during the period are included as expenses while depreciation is excluded as an expense in the schedule of expenditures of federal and state awards. In addition, sale proceeds from disposal of property and equipment paid for by grant funds are considered program income and offset Corporation expenses while only the net gain on sale is reported as income in the statement of activities. Volunteer Services: Services provided by volunteers meet the definition for in-kind expenses for grant purposes but are not considered expenses for financial statements reporting purposes.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
National Centers for Learning Excellence, Inc. is normally required to match 20% of federal Head Start awards. However, in the current grant cycle ending June 30, 2022, the match was reduced to $821,607. The Corporation has met its match as follows for that grant period: "See the Notes to the SEFA for chart/table"
Title: SUBRECIPIENT PAYMENTS
Accounting Policies: Basis of Accounting: Expenditures reported on the Schedule are presented in accordance with the requirements of Uniform Guidance and the State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Property and Equipment: In accordance with grant award budgets, property, and equipment purchased with grant award funds are charged to expense in the period of purchase instead of being depreciated over their useful lives. As a result, property and equipment purchased during the period are included as expenses while depreciation is excluded as an expense in the schedule of expenditures of federal and state awards. In addition, sale proceeds from disposal of property and equipment paid for by grant funds are considered program income and offset Corporation expenses while only the net gain on sale is reported as income in the statement of activities. Volunteer Services: Services provided by volunteers meet the definition for in-kind expenses for grant purposes but are not considered expenses for financial statements reporting purposes.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
National Centers for Learning Excellence, Inc. has not identified any payments to sub-recipients of federal and state awards for the eleven-month period ended June 30, 2022.
Title: OVERSIGHT AGENCIES
Accounting Policies: Basis of Accounting: Expenditures reported on the Schedule are presented in accordance with the requirements of Uniform Guidance and the State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Property and Equipment: In accordance with grant award budgets, property, and equipment purchased with grant award funds are charged to expense in the period of purchase instead of being depreciated over their useful lives. As a result, property and equipment purchased during the period are included as expenses while depreciation is excluded as an expense in the schedule of expenditures of federal and state awards. In addition, sale proceeds from disposal of property and equipment paid for by grant funds are considered program income and offset Corporation expenses while only the net gain on sale is reported as income in the statement of activities. Volunteer Services: Services provided by volunteers meet the definition for in-kind expenses for grant purposes but are not considered expenses for financial statements reporting purposes.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The federal and state oversight agencies for National Centers for Learning Excellence, Inc. are the U.S. Department of Health and Human Services and the Wisconsin Department of Public Instruction, respectively.