Title: NOTE A. BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements. Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Head Start of Rockland, Inc. has elected not to use the 10% de minimis indirect cost rate
allowed under the Uniform Guidance. In accordance with the Federal Requirement for the
Head Start program, the Agency is in compliance with the 15% maximum administrative costs
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal award activity of Head Start of Rockland, Inc. (“the Agency”) under programs of the
federal government for the year ended February 29, 2024. The information in the Schedule is
presented in accordance with 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). Because the Schedule presents only a selected portion of
the operations of Head Start of Rockland, Inc., it is not intended to and does not present the
financial position, changes in net assets, or cash flows of Head Start of Rockland, Inc.
Title: NOTE B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements. Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Head Start of Rockland, Inc. has elected not to use the 10% de minimis indirect cost rate
allowed under the Uniform Guidance. In accordance with the Federal Requirement for the
Head Start program, the Agency is in compliance with the 15% maximum administrative costs
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements. Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement.
Title: NOTE C INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements. Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Head Start of Rockland, Inc. has elected not to use the 10% de minimis indirect cost rate
allowed under the Uniform Guidance. In accordance with the Federal Requirement for the
Head Start program, the Agency is in compliance with the 15% maximum administrative costs
Head Start of Rockland, Inc. has elected not to use the 10% de minimis indirect cost rate
allowed under the Uniform Guidance. In accordance with the Federal Requirement for the
Head Start program, the Agency is in compliance with the 15% maximum administrative costs.
Title: NOTE D. RECONCILIATION OF FINANCIAL STATEMENTS TO FEDERAL AWARDS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements. Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Head Start of Rockland, Inc. has elected not to use the 10% de minimis indirect cost rate
allowed under the Uniform Guidance. In accordance with the Federal Requirement for the
Head Start program, the Agency is in compliance with the 15% maximum administrative costs
See the Notes to the SEFA for chart/table
Title: NOTE E. LOAN GUARANTEE PROGRAM
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements. Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Head Start of Rockland, Inc. has elected not to use the 10% de minimis indirect cost rate
allowed under the Uniform Guidance. In accordance with the Federal Requirement for the
Head Start program, the Agency is in compliance with the 15% maximum administrative costs
See the Notes to the SEFA for chart/table
Title: NOTE F. MATCHING REQUIREMENT
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements. Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Head Start of Rockland, Inc. has elected not to use the 10% de minimis indirect cost rate
allowed under the Uniform Guidance. In accordance with the Federal Requirement for the
Head Start program, the Agency is in compliance with the 15% maximum administrative costs
See the Notes to the SEFA for chart/table