Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in the Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The federal expenditures for CDBG, Federal AL number 14.218, includes $48,776 of expenditures related to the prior year.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of R'Club Child Care, Inc. (the "Organization"). The information in the Schedule is presented in accordance with the 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). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
Title: NOTE 2 - 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, as applicable, either the cost principles in the Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The federal expenditures for CDBG, Federal AL number 14.218, includes $48,776 of expenditures related to the prior year.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as
applicable, either the cost principles in the Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE 3 - INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in the Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The federal expenditures for CDBG, Federal AL number 14.218, includes $48,776 of expenditures related to the prior year.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 4 - SEFA PRIOR YEAR EXPENDITURES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in the Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The federal expenditures for CDBG, Federal AL number 14.218, includes $48,776 of expenditures related to the prior year.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The federal expenditures for CDBG, Federal AL number 14.218, includes $48,776 of expenditures related to the prior year.