Notes to SEFA
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Baby TALK, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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: Y
Rate Explanation: The Organization has chosen to apply the de minimus 10% indirect cost rate.
The Organization did not provide federal awards to subrecipients during the year ended June 30, 2024.
Title: Non-Cash Assistance
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Baby TALK, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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: Y
Rate Explanation: The Organization has chosen to apply the de minimus 10% indirect cost rate.
The Organization did not receive any non-cash assistance through federal awards during the year ended June 30, 2024. In addition, there was no federal insurance in effect during the year, nor any federal loans or loan guarantees outstanding at year end.
Title: Reconciliation of Grant Expenses Paid
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Baby TALK, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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: Y
Rate Explanation: The Organization has chosen to apply the de minimus 10% indirect cost rate.
The Organization receives Early Head Start funds through grants from the U.S. Department of Health and Human Services (DHHS). The grants’ fiscal period of December 31 differs from the Organization’s June 30 year end. The following reconciles the reported grant expenses to those recorded in the accounting records: Grant 05CH01100305:
Total expenses reported for the grant period through June 30, 2024 $ 2,059,368
Less expenses paid prior to July 1, 2023(1,055,974)
1,003,394
Grant 05CH01245001:
Total expenses reported for the grant period through June 30, 2024 1,002,372
Total expenses paid for the year ended June 30, 2024 $ 2,005,766