Title: Note 1 - Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance includes the federal and state grant activity of the Early Learning Coalition of Florida's Heartland, Inc., (the "Coalition") under programs of the federal government and the State of Florida for the year ended June 30, 2024. The information in this schedule is presented in accordance with accounting principles generally accepted in the United States of America as applicable to non-profit organizations, the requirements of OMB Uniform Guidance, Section 215.97 Florida Statutes, the requirements of Chapter 10.650, Rules of the Auditor General of the State of Florida, and the special audit guidance provided by Florida's Division of Early Learning. Accordingly, some amounts presented in the schedule may differ from amounts presented in the basic financial statements. 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 and cost principles established by the State of Florida Department of Financial Services, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-thru entity identifying numbers (contract or grant number) are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Coalition has elected to not use the 10-percent de minimus indirect cost rate for its federal programs and state projects for the year ended June 30, 2024. The indirect cost rates used on the Coalition's federal programs and state projects are determined by the relevant federal or state agency.
The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance includes the federal and state grant activity of the Early Learning Coalition of Florida's Heartland, Inc., (the "Coalition") under programs of the federal government and the State of Florida for the year ended June 30, 2024. The information in this schedule is presented in accordance with accounting principles generally accepted in the United States of America as applicable to non-profit organizations, the requirements of OMB Uniform Guidance, Section 215.97 Florida Statutes, the requirements of Chapter 10.650, Rules of the Auditor General of the State of Florida, and the special audit guidance provided by Florida's Division of Early Learning. Accordingly, some amounts presented in the schedule may differ from amounts presented in the basic financial statements.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance includes the federal and state grant activity of the Early Learning Coalition of Florida's Heartland, Inc., (the "Coalition") under programs of the federal government and the State of Florida for the year ended June 30, 2024. The information in this schedule is presented in accordance with accounting principles generally accepted in the United States of America as applicable to non-profit organizations, the requirements of OMB Uniform Guidance, Section 215.97 Florida Statutes, the requirements of Chapter 10.650, Rules of the Auditor General of the State of Florida, and the special audit guidance provided by Florida's Division of Early Learning. Accordingly, some amounts presented in the schedule may differ from amounts presented in the basic financial statements. 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 and cost principles established by the State of Florida Department of Financial Services, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-thru entity identifying numbers (contract or grant number) are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Coalition has elected to not use the 10-percent de minimus indirect cost rate for its federal programs and state projects for the year ended June 30, 2024. The indirect cost rates used on the Coalition's federal programs and state projects are determined by the relevant federal or state agency.
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 and cost principles established by the State of Florida Department of Financial Services, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-thru entity identifying numbers (contract or grant number) are presented where available.
Title: Note 3 - Matching Requirements
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance includes the federal and state grant activity of the Early Learning Coalition of Florida's Heartland, Inc., (the "Coalition") under programs of the federal government and the State of Florida for the year ended June 30, 2024. The information in this schedule is presented in accordance with accounting principles generally accepted in the United States of America as applicable to non-profit organizations, the requirements of OMB Uniform Guidance, Section 215.97 Florida Statutes, the requirements of Chapter 10.650, Rules of the Auditor General of the State of Florida, and the special audit guidance provided by Florida's Division of Early Learning. Accordingly, some amounts presented in the schedule may differ from amounts presented in the basic financial statements. 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 and cost principles established by the State of Florida Department of Financial Services, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-thru entity identifying numbers (contract or grant number) are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Coalition has elected to not use the 10-percent de minimus indirect cost rate for its federal programs and state projects for the year ended June 30, 2024. The indirect cost rates used on the Coalition's federal programs and state projects are determined by the relevant federal or state agency.
Contract EL114 with Florida's Division of Early Learning ("DEL") includes $1,572,149 of State funding that is designated as matching funds for certain Federal awards. The DEL matching funds are not reported as Federal awards in the accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance, nor are the DEL matching funds subject to the Florida Single Audit Act since they are not considered State Financial Assistance under Florida Single Audit Act. For audit testing purposes, the funds are included with the Federal award programs for which they are designated as matching. The amounts designated as matching funds for Federal award programs are summarized as follows:
Title: Note 4 - Contingencies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance includes the federal and state grant activity of the Early Learning Coalition of Florida's Heartland, Inc., (the "Coalition") under programs of the federal government and the State of Florida for the year ended June 30, 2024. The information in this schedule is presented in accordance with accounting principles generally accepted in the United States of America as applicable to non-profit organizations, the requirements of OMB Uniform Guidance, Section 215.97 Florida Statutes, the requirements of Chapter 10.650, Rules of the Auditor General of the State of Florida, and the special audit guidance provided by Florida's Division of Early Learning. Accordingly, some amounts presented in the schedule may differ from amounts presented in the basic financial statements. 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 and cost principles established by the State of Florida Department of Financial Services, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-thru entity identifying numbers (contract or grant number) are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Coalition has elected to not use the 10-percent de minimus indirect cost rate for its federal programs and state projects for the year ended June 30, 2024. The indirect cost rates used on the Coalition's federal programs and state projects are determined by the relevant federal or state agency.
Grant monies received by the Coalition are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon prior experience, the Coalition does not believe that such disallowances, if any, would have a material effect on the financial position of the Coalition. As of June 30, 2024, there were no material questioned or disallowed costs as a result of grant audits in process or completed of which management was aware. Any adjustments to grant funding are recorded in the year the adjustment occurs.
Title: Note 5 - Indirect Cost Rates
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance includes the federal and state grant activity of the Early Learning Coalition of Florida's Heartland, Inc., (the "Coalition") under programs of the federal government and the State of Florida for the year ended June 30, 2024. The information in this schedule is presented in accordance with accounting principles generally accepted in the United States of America as applicable to non-profit organizations, the requirements of OMB Uniform Guidance, Section 215.97 Florida Statutes, the requirements of Chapter 10.650, Rules of the Auditor General of the State of Florida, and the special audit guidance provided by Florida's Division of Early Learning. Accordingly, some amounts presented in the schedule may differ from amounts presented in the basic financial statements. 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 and cost principles established by the State of Florida Department of Financial Services, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-thru entity identifying numbers (contract or grant number) are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Coalition has elected to not use the 10-percent de minimus indirect cost rate for its federal programs and state projects for the year ended June 30, 2024. The indirect cost rates used on the Coalition's federal programs and state projects are determined by the relevant federal or state agency.
The Coalition has elected to not use the 10-percent de minimus indirect cost rate for its federal programs and state projects for the year ended June 30, 2024. The indirect cost rates used on the Coalition's federal programs and state projects are determined by the relevant federal or state agency.