Notes to SEFA
Title: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards was prepared 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). The purpose of this schedule is to present information related to expenditures of Southern Kennebec Child Development Corporation (the Corporation) under programs of the federal government for the year ended May 31, 2024.
The Corporation’s federal awards are received either directly from the federal government or indirectly through “pass-through” organizations. The accompanying schedule of expenditures of federal awards was prepared using the accrual method of accounting. Expenses are recognized as incurred using the cost accounting principles contained in the Uniform Guidance. Under those cost principles, certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: During the year ended May 31, 2024, the Corporation did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect costs applied to awards for the year ended May
31, 2024 were either in accordance with the Corporation’s U.S. Department of Health and Human Services Head Start agreement or negotiated with the State of Maine Departments of Health and Human
Services and Education, the pass-through entities for certain grant awards of the Corporation.
Of the federal expenditures presented in the schedule of expenditures of federal awards, the Corporation
did not provide federal awards to subrecipients.
Title: MATCHING
Accounting Policies: The accompanying schedule of expenditures of federal awards was prepared 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). The purpose of this schedule is to present information related to expenditures of Southern Kennebec Child Development Corporation (the Corporation) under programs of the federal government for the year ended May 31, 2024.
The Corporation’s federal awards are received either directly from the federal government or indirectly through “pass-through” organizations. The accompanying schedule of expenditures of federal awards was prepared using the accrual method of accounting. Expenses are recognized as incurred using the cost accounting principles contained in the Uniform Guidance. Under those cost principles, certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: During the year ended May 31, 2024, the Corporation did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect costs applied to awards for the year ended May
31, 2024 were either in accordance with the Corporation’s U.S. Department of Health and Human Services Head Start agreement or negotiated with the State of Maine Departments of Health and Human
Services and Education, the pass-through entities for certain grant awards of the Corporation.
In accordance with terms of the U.S. Department of Health and Human Services Head Start agreement, the Corporation has met its matching requirements during the year ended May 31, 2024.