Notes to SEFA
Title: RECONCILIATION TO STATEMENT OF ACTIVITIES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Talladega Clay Randolph Child Care Corporation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: Talladega Clay Randolph Child Care Corporation has not elected.
The accompanying schedule of expenditures of federal awards reports total federal awards at gross receipts. In the statement of activities, Talladega Clay Randolph Child Care Corporation has elected to show federal awards net of disbursements to subrecipients. Medicaid revenues are reported as federal awards in the statement of activities but are excluded from the schedule of expenditures of federal awards as they are not subject to Single Audit requirements.