Notes to SEFA
Title: Note C - Subrecipient Monitoring
Accounting Policies: (1) Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
(2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: ReadyKids, Inc. elected not to use the 10% de minimis cost rate.
No awards were passed through to subrecipients
Title: Note E - Relationship to the Financial Statements
Accounting Policies: (1) Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
(2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: ReadyKids, Inc. elected not to use the 10% de minimis cost rate.
Federal expenditures and revenues are reported in the Organization's financial statements as follows: Grant funding per Statement of Activities: Federal grant revenues $822,449. Total federal expenditures per the Schedule of Expenditures of Federal Awards $822,449.