Notes to SEFA
Title: Note A - Basis of Presentation
Accounting Policies: Expenditures reported on the Scheduled are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. HCI has elected not to used the 10% de minimus indirect cost rate as allowed under the Uniform Guidance. (1) Non-cash matching assistance not included in the Early Head Start expenditures above for the
year ended June 30, 2024 is $331,653.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of HCI under programs of the federal government for the year ended June 30, 2024
and is presented on the accrual basis of accounting. 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). Because the Schedule presents only a selected portion of the operations of HCI,
it is not intended to and does not present the financial position, changes in net assets, or cash flows
of HCI.
Title: Note B - Summary of Significant Policies
Accounting Policies: Expenditures reported on the Scheduled are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. HCI has elected not to used the 10% de minimus indirect cost rate as allowed under the Uniform Guidance. (1) Non-cash matching assistance not included in the Early Head Start expenditures above for the
year ended June 30, 2024 is $331,653.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement. HCI has
elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
(1) Non-cash matching assistance not included in the Early Head Start expenditures above for the
year ended June 30, 2024 is $331,653
Title: Note C - Pass-Through Funds to Subrecipients
Accounting Policies: Expenditures reported on the Scheduled are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. HCI has elected not to used the 10% de minimus indirect cost rate as allowed under the Uniform Guidance. (1) Non-cash matching assistance not included in the Early Head Start expenditures above for the
year ended June 30, 2024 is $331,653.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
During 2024, HCI did not pass through funds to sub-recipients.