Title: Basis of Accounting and Presentation
Accounting Policies: This summary of significant accounting policies of Paso del Norte Children’s Development Center is presented to assist in understanding Paso del Norte Children’s Development Center’s Schedule
of Expenditures of Federal and State Awards. The Schedule of Expenditures of Federal and State Awards (“SEFA”) and notes are representations of Paso del Norte Children’s Development Center 's management, who is responsible for their integrity and objectivity.
Basis of Accounting and Presentation – The Schedule of Expenditures of Federal and State Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in
accordance with the Uniform Guidance, UGMS and the State of Texas Single Audit Circular; therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
Forgivable Loan – The Center is the sub-recipient of federal assistance in the form of a forgivable loan that was received and expensed during fiscal year 2024 for a total amount of $1,000,000. This
assistance is identified as Community Development Block Grant – PdN Children’s IELC east (“CDBG”)
assistance listing number 14.218 in the SEFA and was used for construction of the inclusive early
learning center branch located in east El Paso. The forgiveness of this amount and related recognition of
revenue is contingent upon the passage of time and compliance with specific requirements set by the
grantor. Therefore, it is presented solely as a forgivable loan in the consolidated statement of financial
position. However, expenditures for CDBG are required to be reported in the SEFA for the year ended
August 31, 2024.
The following is a reconciliation of total federal grant expenditures reported in the SEFA to total
federal grant income reported in the consolidated statement of activities for the year ended August 31,
2024:
Federal grant expenditures per SEFA$ 4,075,090
Less CDBG forgivable loan recognized
in the consolidated statement of financial position(1,000,000)
Total federal grant income per the
consolidated statement of activities$ 3,075,090
Indirect Costs – The SEFA includes a portion of costs associated with general and administrative
activities, which is allocated to federal and state assistance programs under negotiated formulas commonly referred to as a negotiated indirect cost rate. Currently, the Center allocates indirect expenses
in accordance with an indirect cost rate approved by the Texas Health and Human Services Commission.
The Organization has not negotiated an indirect cost rate with any Federal cognizant agency and has not declined to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation
factor, as allowed under 2CFR §200.414, for any Federal awards not otherwise overseen by the Texas Health and Human Services Commission.
Subrecipients – There were no subrecipients of the Federal or State Awards received by Paso del Norte Children’s Development Center for the year ended August 31, 2024.
Affiliate – Paso del Norte Children’s Development Center’s Affiliate, Paso del Norte Children’s Development Center Foundation, did not receive any federal or state awards for the year ended August
31, 2024.
De Minimis Rate Used: Y
Rate Explanation: The Organization has not negotiated an indirect cost rate with any Federal cognizant agency and has not declined to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation
factor, as allowed under 2CFR §200.414, for any Federal awards not otherwise overseen by the Texas Health and Human Services Commission.
The Schedule of Expenditures of Federal and State
Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in
accordance with the Uniform Guidance, UGMS and the State of Texas Single Audit Circular; therefore,
some amounts presented in this schedule may differ from amounts presented in, or used in the preparation
of, the basic consolidated financial statements.
Title: Forgivable Loan
Accounting Policies: This summary of significant accounting policies of Paso del Norte Children’s Development Center is presented to assist in understanding Paso del Norte Children’s Development Center’s Schedule
of Expenditures of Federal and State Awards. The Schedule of Expenditures of Federal and State Awards (“SEFA”) and notes are representations of Paso del Norte Children’s Development Center 's management, who is responsible for their integrity and objectivity.
Basis of Accounting and Presentation – The Schedule of Expenditures of Federal and State Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in
accordance with the Uniform Guidance, UGMS and the State of Texas Single Audit Circular; therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
Forgivable Loan – The Center is the sub-recipient of federal assistance in the form of a forgivable loan that was received and expensed during fiscal year 2024 for a total amount of $1,000,000. This
assistance is identified as Community Development Block Grant – PdN Children’s IELC east (“CDBG”)
assistance listing number 14.218 in the SEFA and was used for construction of the inclusive early
learning center branch located in east El Paso. The forgiveness of this amount and related recognition of
revenue is contingent upon the passage of time and compliance with specific requirements set by the
grantor. Therefore, it is presented solely as a forgivable loan in the consolidated statement of financial
position. However, expenditures for CDBG are required to be reported in the SEFA for the year ended
August 31, 2024.
The following is a reconciliation of total federal grant expenditures reported in the SEFA to total
federal grant income reported in the consolidated statement of activities for the year ended August 31,
2024:
Federal grant expenditures per SEFA$ 4,075,090
Less CDBG forgivable loan recognized
in the consolidated statement of financial position(1,000,000)
Total federal grant income per the
consolidated statement of activities$ 3,075,090
Indirect Costs – The SEFA includes a portion of costs associated with general and administrative
activities, which is allocated to federal and state assistance programs under negotiated formulas commonly referred to as a negotiated indirect cost rate. Currently, the Center allocates indirect expenses
in accordance with an indirect cost rate approved by the Texas Health and Human Services Commission.
The Organization has not negotiated an indirect cost rate with any Federal cognizant agency and has not declined to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation
factor, as allowed under 2CFR §200.414, for any Federal awards not otherwise overseen by the Texas Health and Human Services Commission.
Subrecipients – There were no subrecipients of the Federal or State Awards received by Paso del Norte Children’s Development Center for the year ended August 31, 2024.
Affiliate – Paso del Norte Children’s Development Center’s Affiliate, Paso del Norte Children’s Development Center Foundation, did not receive any federal or state awards for the year ended August
31, 2024.
De Minimis Rate Used: Y
Rate Explanation: The Organization has not negotiated an indirect cost rate with any Federal cognizant agency and has not declined to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation
factor, as allowed under 2CFR §200.414, for any Federal awards not otherwise overseen by the Texas Health and Human Services Commission.
The Center is the sub-recipient of federal assistance in the form of a forgivable
loan that was received and expensed during fiscal year 2024 for a total amount of $1,000,000. This
assistance is identified as Community Development Block Grant – PdN Children’s IELC east (“CDBG”)
assistance listing number 14.218 in the SEFA and was used for construction of the inclusive early
learning center branch located in east El Paso. The forgiveness of this amount and related recognition of
revenue is contingent upon the passage of time and compliance with specific requirements set by the
grantor. Therefore, it is presented solely as a forgivable loan in the consolidated statement of financial
position. However, expenditures for CDBG are required to be reported in the SEFA for the year ended
August 31, 2024.
The following is a reconciliation of total federal grant expenditures reported in the SEFA to total
federal grant income reported in the consolidated statement of activities for the year ended August 31,
2024:
Federal grant expenditures per SEFA$ 4,075,090
Less CDBG forgivable loan recognized
in the consolidated statement of financial position(1,000,000)
Total federal grant income per the
consolidated statement of activities$ 3,075,090
Title: Indirect Costs
Accounting Policies: This summary of significant accounting policies of Paso del Norte Children’s Development Center is presented to assist in understanding Paso del Norte Children’s Development Center’s Schedule
of Expenditures of Federal and State Awards. The Schedule of Expenditures of Federal and State Awards (“SEFA”) and notes are representations of Paso del Norte Children’s Development Center 's management, who is responsible for their integrity and objectivity.
Basis of Accounting and Presentation – The Schedule of Expenditures of Federal and State Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in
accordance with the Uniform Guidance, UGMS and the State of Texas Single Audit Circular; therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
Forgivable Loan – The Center is the sub-recipient of federal assistance in the form of a forgivable loan that was received and expensed during fiscal year 2024 for a total amount of $1,000,000. This
assistance is identified as Community Development Block Grant – PdN Children’s IELC east (“CDBG”)
assistance listing number 14.218 in the SEFA and was used for construction of the inclusive early
learning center branch located in east El Paso. The forgiveness of this amount and related recognition of
revenue is contingent upon the passage of time and compliance with specific requirements set by the
grantor. Therefore, it is presented solely as a forgivable loan in the consolidated statement of financial
position. However, expenditures for CDBG are required to be reported in the SEFA for the year ended
August 31, 2024.
The following is a reconciliation of total federal grant expenditures reported in the SEFA to total
federal grant income reported in the consolidated statement of activities for the year ended August 31,
2024:
Federal grant expenditures per SEFA$ 4,075,090
Less CDBG forgivable loan recognized
in the consolidated statement of financial position(1,000,000)
Total federal grant income per the
consolidated statement of activities$ 3,075,090
Indirect Costs – The SEFA includes a portion of costs associated with general and administrative
activities, which is allocated to federal and state assistance programs under negotiated formulas commonly referred to as a negotiated indirect cost rate. Currently, the Center allocates indirect expenses
in accordance with an indirect cost rate approved by the Texas Health and Human Services Commission.
The Organization has not negotiated an indirect cost rate with any Federal cognizant agency and has not declined to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation
factor, as allowed under 2CFR §200.414, for any Federal awards not otherwise overseen by the Texas Health and Human Services Commission.
Subrecipients – There were no subrecipients of the Federal or State Awards received by Paso del Norte Children’s Development Center for the year ended August 31, 2024.
Affiliate – Paso del Norte Children’s Development Center’s Affiliate, Paso del Norte Children’s Development Center Foundation, did not receive any federal or state awards for the year ended August
31, 2024.
De Minimis Rate Used: Y
Rate Explanation: The Organization has not negotiated an indirect cost rate with any Federal cognizant agency and has not declined to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation
factor, as allowed under 2CFR §200.414, for any Federal awards not otherwise overseen by the Texas Health and Human Services Commission.
The SEFA includes a portion of costs associated with general and administrative
activities, which is allocated to federal and state assistance programs under negotiated formulas
commonly referred to as a negotiated indirect cost rate. Currently, the Center allocates indirect expenses
in accordance with an indirect cost rate approved by the Texas Health and Human Services Commission.
The Organization has not negotiated an indirect cost rate with any Federal cognizant agency and has not
declined to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation
factor, as allowed under 2CFR §200.414, for any Federal awards not otherwise overseen by the Texas
Health and Human Services Commission.
Title: Subrecipients
Accounting Policies: This summary of significant accounting policies of Paso del Norte Children’s Development Center is presented to assist in understanding Paso del Norte Children’s Development Center’s Schedule
of Expenditures of Federal and State Awards. The Schedule of Expenditures of Federal and State Awards (“SEFA”) and notes are representations of Paso del Norte Children’s Development Center 's management, who is responsible for their integrity and objectivity.
Basis of Accounting and Presentation – The Schedule of Expenditures of Federal and State Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in
accordance with the Uniform Guidance, UGMS and the State of Texas Single Audit Circular; therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
Forgivable Loan – The Center is the sub-recipient of federal assistance in the form of a forgivable loan that was received and expensed during fiscal year 2024 for a total amount of $1,000,000. This
assistance is identified as Community Development Block Grant – PdN Children’s IELC east (“CDBG”)
assistance listing number 14.218 in the SEFA and was used for construction of the inclusive early
learning center branch located in east El Paso. The forgiveness of this amount and related recognition of
revenue is contingent upon the passage of time and compliance with specific requirements set by the
grantor. Therefore, it is presented solely as a forgivable loan in the consolidated statement of financial
position. However, expenditures for CDBG are required to be reported in the SEFA for the year ended
August 31, 2024.
The following is a reconciliation of total federal grant expenditures reported in the SEFA to total
federal grant income reported in the consolidated statement of activities for the year ended August 31,
2024:
Federal grant expenditures per SEFA$ 4,075,090
Less CDBG forgivable loan recognized
in the consolidated statement of financial position(1,000,000)
Total federal grant income per the
consolidated statement of activities$ 3,075,090
Indirect Costs – The SEFA includes a portion of costs associated with general and administrative
activities, which is allocated to federal and state assistance programs under negotiated formulas commonly referred to as a negotiated indirect cost rate. Currently, the Center allocates indirect expenses
in accordance with an indirect cost rate approved by the Texas Health and Human Services Commission.
The Organization has not negotiated an indirect cost rate with any Federal cognizant agency and has not declined to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation
factor, as allowed under 2CFR §200.414, for any Federal awards not otherwise overseen by the Texas Health and Human Services Commission.
Subrecipients – There were no subrecipients of the Federal or State Awards received by Paso del Norte Children’s Development Center for the year ended August 31, 2024.
Affiliate – Paso del Norte Children’s Development Center’s Affiliate, Paso del Norte Children’s Development Center Foundation, did not receive any federal or state awards for the year ended August
31, 2024.
De Minimis Rate Used: Y
Rate Explanation: The Organization has not negotiated an indirect cost rate with any Federal cognizant agency and has not declined to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation
factor, as allowed under 2CFR §200.414, for any Federal awards not otherwise overseen by the Texas Health and Human Services Commission.
There were no subrecipients of the Federal or State Awards received by Paso del
Norte Children’s Development Center for the year ended August 31, 2024
Title: Affiliate
Accounting Policies: This summary of significant accounting policies of Paso del Norte Children’s Development Center is presented to assist in understanding Paso del Norte Children’s Development Center’s Schedule
of Expenditures of Federal and State Awards. The Schedule of Expenditures of Federal and State Awards (“SEFA”) and notes are representations of Paso del Norte Children’s Development Center 's management, who is responsible for their integrity and objectivity.
Basis of Accounting and Presentation – The Schedule of Expenditures of Federal and State Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in
accordance with the Uniform Guidance, UGMS and the State of Texas Single Audit Circular; therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
Forgivable Loan – The Center is the sub-recipient of federal assistance in the form of a forgivable loan that was received and expensed during fiscal year 2024 for a total amount of $1,000,000. This
assistance is identified as Community Development Block Grant – PdN Children’s IELC east (“CDBG”)
assistance listing number 14.218 in the SEFA and was used for construction of the inclusive early
learning center branch located in east El Paso. The forgiveness of this amount and related recognition of
revenue is contingent upon the passage of time and compliance with specific requirements set by the
grantor. Therefore, it is presented solely as a forgivable loan in the consolidated statement of financial
position. However, expenditures for CDBG are required to be reported in the SEFA for the year ended
August 31, 2024.
The following is a reconciliation of total federal grant expenditures reported in the SEFA to total
federal grant income reported in the consolidated statement of activities for the year ended August 31,
2024:
Federal grant expenditures per SEFA$ 4,075,090
Less CDBG forgivable loan recognized
in the consolidated statement of financial position(1,000,000)
Total federal grant income per the
consolidated statement of activities$ 3,075,090
Indirect Costs – The SEFA includes a portion of costs associated with general and administrative
activities, which is allocated to federal and state assistance programs under negotiated formulas commonly referred to as a negotiated indirect cost rate. Currently, the Center allocates indirect expenses
in accordance with an indirect cost rate approved by the Texas Health and Human Services Commission.
The Organization has not negotiated an indirect cost rate with any Federal cognizant agency and has not declined to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation
factor, as allowed under 2CFR §200.414, for any Federal awards not otherwise overseen by the Texas Health and Human Services Commission.
Subrecipients – There were no subrecipients of the Federal or State Awards received by Paso del Norte Children’s Development Center for the year ended August 31, 2024.
Affiliate – Paso del Norte Children’s Development Center’s Affiliate, Paso del Norte Children’s Development Center Foundation, did not receive any federal or state awards for the year ended August
31, 2024.
De Minimis Rate Used: Y
Rate Explanation: The Organization has not negotiated an indirect cost rate with any Federal cognizant agency and has not declined to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation
factor, as allowed under 2CFR §200.414, for any Federal awards not otherwise overseen by the Texas Health and Human Services Commission.
Paso del Norte Children’s Development Center’s Affiliate, Paso del Norte Children’s
Development Center Foundation, did not receive any federal or state awards for the year ended August
31, 2024.