Title: RELATIONSHIP TO CONSOLIDATED FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance (the schedule) includes the federal and state grant activity of 4KIDS of South Florida, Inc. and Subsidiaries (Organization) under programs of the federal government and State of Florida for the year ended June 30, 2024. The information in the schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and Chapter 10.650, Rules of the Auditor General. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements. Expenditures in the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and Chapter 10.650, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. If the Organization is required to match certain federal or state assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule.
The federal funds received under assistance listing numbers (ALN) 93.556, 93.558, 93.658, 93.659, and 93.667 are comingled when awarded and disbusred to the Organization. As the expenditures under these ALNs are not distinguishable, the funds are treated as a state cluster for the Single Audit.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
See the Notes to the SEFA for chart/table
Title: SUBRECIPIENTS, NON-CASH ASSISTANCE, FEDERAL INSURANCE, LOANS, AND LOAN GUARANTEES
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance (the schedule) includes the federal and state grant activity of 4KIDS of South Florida, Inc. and Subsidiaries (Organization) under programs of the federal government and State of Florida for the year ended June 30, 2024. The information in the schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and Chapter 10.650, Rules of the Auditor General. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements. Expenditures in the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and Chapter 10.650, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. If the Organization is required to match certain federal or state assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule.
The federal funds received under assistance listing numbers (ALN) 93.556, 93.558, 93.658, 93.659, and 93.667 are comingled when awarded and disbusred to the Organization. As the expenditures under these ALNs are not distinguishable, the funds are treated as a state cluster for the Single Audit.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization did not provide any federal funds to subrecipients nor did they receive any federal non-cash assistance, insurance, loans, or loan guarantees.