Title: Contingencies
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, Cost Principles for Non-ProfitOrganizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The federal programs shown in the schedule of expenditures of federal awards are subject to financial and compliance audits by grantor agencies, which, if instances of material noncompliance are found, may result in disallowable expenditures, and affect the Organization's continued participation in specific programs. The amount, if any, of expenditures, which may be disallowed by the grantor agencies, cannot be determined atthis time, although the Organization expects such amounts, if any, to be immaterial.
Title: Pass-through awards
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, Cost Principles for Non-ProfitOrganizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization receives federal financial assistance from the U.S. Department of Agriculture, which is a pass-through award from the State of Florida, Department of Health. The Organization also receives federal financial assistance from the U.S. Department of Health and Human Services under Title XX and under Voluntary Pre kindergarten Education Program as a pass-through award from the School District of Hillsborough County, Florida. Federal financial assistance from the U.S Department of Health and Human Services are also received under the Head Start for School Readiness Reauthorization Act as a pass-through from Eckerd Youth Alternatives, Inc. The amounts of direct awards and pass-through awards are included on the schedule of expenditures of federal awards.
Title: Subrecipients
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, Cost Principles for Non-ProfitOrganizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Of the federal expenditures presented in the schedule, the Organization provided federal awards to subrecipients as follows: Assistance Listing Number - 10.558; Federal Program - Child and Adult Food Care Program; Amount Provided To Subrecipients - $4,861,316. As a subrecipient, the Organization has certain compliance responsibilities, such as monitoring its subrecipients to help assure they use these sub-awards as authorized by laws, regulations, and the provisions of contracts or grant agreements, and that subrecipients achieve the awards performance goals.
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, Cost Principles for Non-ProfitOrganizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of State and Local Governments and Non-Profit Organizations. Because the schedule presents only a selected portion of the operations of Cornerstone Family Ministries, Inc. (the Organization), it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Organization.