Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of BCMW Community Services, Inc. (Agency) under programs of the federal government for the year ended June 30, 2024. The information in this 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards is a summary of the activity of the Agency’s federal award programs presented on the accrual basis. Expenses are recognized and recorded when incurred. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
Title: SUBRECIPIENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of BCMW Community Services, Inc. (Agency) under programs of the federal government for the year ended June 30, 2024. The information in this 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Agency did not provide federal awards to subrecipients during the year ended June 30, 2024.
Title: DESCRIPTION OF MAJOR FEDERAL PROGRAMS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of BCMW Community Services, Inc. (Agency) under programs of the federal government for the year ended June 30, 2024. The information in this 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The major federal program of the Agency was the U.S. Department of Health and Human Services Head Start Program (93.600). The purpose of the Head Start Program is to promote school readiness by enhancing children’s cognitive social and emotional development.
Title: NON-CASH ASSISTANCE, LOANS OUTSTANDING AND INSURANCE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of BCMW Community Services, Inc. (Agency) under programs of the federal government for the year ended June 30, 2024. The information in this 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Agency did not receive any federal non-cash assistance, federal loans or federal insurance for the year ended June 30, 2024.