Audit 323764

Title: Subrecipients Accounting Policies: Basis of Accounting The accompanying schedule of expenditures of federal awards includes the federal grant activity of Kootenai Valley Head Start, Inc. (Organization) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements. Summary of Significant Accounting Policies The accounting policies used in preparing the Schedule of Expenditures of Federal Awards are the same as those used in the preparation of the basic financial statements as described in Note 1 to the financial statements. The information included in this schedule is presented in accordance with the requirements of the Uniform Guidance and OMB Circular A-122, Cost Principles for Non-profit Organizations. Some amounts may differ from amounts presented in, or used in the preparation of, the basic financial statements. Reported Federal expenditures include only expenditures paid with Federal funds or reportable program income. De Minimis Rate Used: N Rate Explanation: The Organization did not elect to use the 10% de minimis cost rate. The Organization did not provide awards to subrecipients during the year ended January 31, 2024.