Title: Match
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assitance (Schedule) includes the federal and state grant activity of The Florida Center for Early Childhood, Inc. (Center) and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance and Chapter 10.650, Florida Single Audit Act Audits - Nonprofit and For-proit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Center has elected to not use the 10% de Minimis Indirect Cost Rate
The Center's contract includes state match for a total of $1,051,342. The allocation of state and federal funding to the program is determined by the Department of Children and Families. Also as required in the contract, the Center must obtain other contributions in cash or in-kind services totaling $412,195.
Title: Loans or Loan Guarantees
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assitance (Schedule) includes the federal and state grant activity of The Florida Center for Early Childhood, Inc. (Center) and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance and Chapter 10.650, Florida Single Audit Act Audits - Nonprofit and For-proit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Center has elected to not use the 10% de Minimis Indirect Cost Rate
The Centers' federal awards do not include loans or loan guarantees.
Title: Non-Cash Assistance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assitance (Schedule) includes the federal and state grant activity of The Florida Center for Early Childhood, Inc. (Center) and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance and Chapter 10.650, Florida Single Audit Act Audits - Nonprofit and For-proit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Center has elected to not use the 10% de Minimis Indirect Cost Rate
The Center did not receive any federal non-cash assistance for the fiscal year ended June 30, 2024.
Title: Contingencies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assitance (Schedule) includes the federal and state grant activity of The Florida Center for Early Childhood, Inc. (Center) and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance and Chapter 10.650, Florida Single Audit Act Audits - Nonprofit and For-proit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Center has elected to not use the 10% de Minimis Indirect Cost Rate
Grant monies received and disbursed by the Florida Center for Early Childhood are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon prior experience, the Center does believe that such disallowance, if any, would have a material effect on the financial position of the Center. As of the date of this report, there were no material questioned or disallowed costs as a result of grant audit in process or completed.