Title: NOTE A
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: Glen Cove Child Day Care Center, 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 Organization is in compliance with the 15%
maximum administrative costs.
BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes
the federal award activity of Glen Cove Child Day Care Center, Inc. (the Center) under
programs of the federal government for the year ended July 31, 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 Glen Cove Child Day Care Center, Inc., it is
not intended to and does not present the financial position, changes in net assets, or cash
flows of Glen Cove Child Day Care Center, Inc.
Title: NOTE B
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: Glen Cove Child Day Care Center, 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 Organization is in compliance with the 15%
maximum administrative costs.
SUMMARY OF SIGNIFICANT 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.
Title: NOTE C
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: Glen Cove Child Day Care Center, 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 Organization is in compliance with the 15%
maximum administrative costs.
INDIRECT COST RATE
Glen Cove Child Day Care Center, 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 Organization is in compliance with the 15%
maximum administrative costs.
Title: NOTE D
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: Glen Cove Child Day Care Center, 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 Organization is in compliance with the 15%
maximum administrative costs.
RECONCILIATION OF FINANCIAL STATEMENTS TO FEDERAL AWARDS
Food Head Start
Nassau
County CDBG
Child Care
Development
Expenses per GAAP $140,521 $2,383,632 $ 196091 $ 8,000 $ 176,604
Subtract: Depreciation on
capitalized items - (15,669) -
Total grant award 140,521 2,367,963 196,091 8,000 176,604
Add: Change in Equipment and
Leasehold Improvements
117,241
Add: Prepaid 3,163
Less: In-kind donations - (587,658) - - -
Grant award $140,521 $1,900,709 $ 196,091 $ 8,000 $ 176,604
The agency received $326,819 from the county for the day care program, of that amount,
only 60% is from Federal funds totaling of $196,091.
Title: NOTE E
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: Glen Cove Child Day Care Center, 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 Organization is in compliance with the 15%
maximum administrative costs.
MATCHING REQUIREMENT
The Head Start program met its matching requirement as follows:
Required amount $ 414,714
In-kind: consultants, professional fees, and goods $ 371,310
In-kind: volunteers 216,348
587,658
Requirement Met