Notes to SEFA
Title: Matching Contributions
Accounting Policies: Basis of Accounting: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 230, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identification numbers are presented where available. Relationship to Basic Financial Statements: Federal awards revenues are reported in the basic financial statements as federal government revenue. The basic financial statements are presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Required matching contributions for program costs related to the Region XII and Region II Head Start programs were made by the Organization. Region XII Head Start received the required in-kind contribution of $941,952 and Region II Head Start received the required in-kind contribution of $359,718. Of the Region XII Head Start, and Region II Head Start matching contributions, $557,149 and $245,239, respectively, were for various indirect expenses incurred by the Organization not charged directly to the programs. These costs were reimbursed by a separate agency and are included in the statement of functional expenses. In addition, $103,903 and $43,550, respectively, in volunteer services are not recorded in the financial statements.
Title: Noncash Assistance
Accounting Policies: Basis of Accounting: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 230, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identification numbers are presented where available. Relationship to Basic Financial Statements: Federal awards revenues are reported in the basic financial statements as federal government revenue. The basic financial statements are presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no federal awards expended in the form of noncash assistance by the Organization during the year ended March 31, 2022, and accordingly, no amounts were reported on the Schedule.
Title: Subrecipients
Accounting Policies: Basis of Accounting: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 230, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identification numbers are presented where available. Relationship to Basic Financial Statements: Federal awards revenues are reported in the basic financial statements as federal government revenue. The basic financial statements are presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization provided no federal awards to subrecipients during the year ended March 31, 2022, and accordingly, no amounts were reported on the Schedule.