Title: NOTE A. BASIS OF PRESENTATION
Accounting Policies: 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 200, Uniform Administrative Requirements. Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: L.I. Child and Family Development Services, Inc. has elected not to use the 10% de minimis
indirect cost rate allowed under the Uniform Guidance. In accordance with the Federal
Requirement for the Head Start program, the Agency is in compliance with the 15% maximum
administrative costs.
The accompanying schedule of expenditures of federal awards (“the Schedule”) includes the
federal award activity of L.I. Child and Family Development Services, Inc. (“the Agency”) under
programs of the federal government for the year ended November 30, 2024. The information in
the Schedule is presented in accordance with 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 L.I. Child and Family Development Services, Inc., it is not
intended to and does not present the financial position, changes in net assets, or cash flows of
L.I. Child and Family Development Services, Inc.
Title: NOTE B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: 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 200, Uniform Administrative Requirements. Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: L.I. Child and Family Development Services, Inc. has elected not to use the 10% de minimis
indirect cost rate allowed under the Uniform Guidance. In accordance with the Federal
Requirement for the Head Start program, the Agency is in compliance with the 15% maximum
administrative costs.
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 200, Uniform Administrative Requirements. Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement.
Title: NOTE C INDIRECT COST RATE
Accounting Policies: 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 200, Uniform Administrative Requirements. Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: L.I. Child and Family Development Services, Inc. has elected not to use the 10% de minimis
indirect cost rate allowed under the Uniform Guidance. In accordance with the Federal
Requirement for the Head Start program, the Agency is in compliance with the 15% maximum
administrative costs.
L.I. Child and Family Development Services, Inc. has elected not to use the 10% de minimis
indirect cost rate allowed under the Uniform Guidance. In accordance with the Federal
Requirement for the Head Start program, the Agency is in compliance with the 15% maximum
administrative costs.
Title: NOTE D. RECONCILIATION OF FINANCIAL STATEMENTS TO FEDERAL AWARDS
Accounting Policies: 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 200, Uniform Administrative Requirements. Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: L.I. Child and Family Development Services, Inc. has elected not to use the 10% de minimis
indirect cost rate allowed under the Uniform Guidance. In accordance with the Federal
Requirement for the Head Start program, the Agency is in compliance with the 15% maximum
administrative costs.
Head Start
One-Time
Funding
Head
Start
COVID
Early Head
Start CC
Partnership CACFP
Workforce
Retention
Expenses per
GAAP $21,897,145 $ - $88,188 $ 2,557,319 $1,220,365 $870,270
Less: E-Rate-
In-kind (266,364) - - - - -
Less: E-Rate
rebate (6,596) - - - - -
Addback:
Capitalized
purchases of
property plant
and equipment 14,156 195,327 123,000 - - -
Addback:
Inventory costs - - - - (7,979) -
Subtract:
Depreciation on
capitalized
items (355,868) - (31,949) - - -
Less: Program
income for
Route 112
Medford (31,060) - - - - -
Add: Change in
Prepaid
Expenses 1,275 - - - - -
Total grant
award 21,252,688 195,327 179,239 2,557,319 1,212,386 870,270
Less: In-kind (1,558,451) - - (80,046) - -
Grant award $19,694,237 195,327 $179,239 $ 2,477,273 $1,212,386 $870,270
Title: NOTE E: RECONCILATION OF EARLY HEAD START CC PARTNERSHIP
Accounting Policies: 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 200, Uniform Administrative Requirements. Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: L.I. Child and Family Development Services, Inc. has elected not to use the 10% de minimis
indirect cost rate allowed under the Uniform Guidance. In accordance with the Federal
Requirement for the Head Start program, the Agency is in compliance with the 15% maximum
administrative costs.
The EHS-CCP has a program year of September 1, 2023 to August 31, 2024. The Schedule of
Expenditures of Federal Awards is reported on the fiscal year ended November 30, 2024. A
Schedule of reconciling the expenditures per the accompanying Schedule of Expenditures of
Federal Awards to the Federal Financial Status Reports, is as follows:
Expenditures
Amount on August 31, 2024 Grant Award $ 2,585,374
Less: Expenditures for the Period September 1,
2024 – November 30, 2024 (572,944)
Add: Expenditures for the Period September 1,
2023 – November 30, 2023 544,889
Amount per Schedule of Federal Awards $ 2,557,319
Title: NOTE F. MATCHING REQUIREMENT
Accounting Policies: 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 200, Uniform Administrative Requirements. Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: L.I. Child and Family Development Services, Inc. has elected not to use the 10% de minimis
indirect cost rate allowed under the Uniform Guidance. In accordance with the Federal
Requirement for the Head Start program, the Agency is in compliance with the 15% maximum
administrative costs.
The Head Start program met its matching requirement as follows:
Head Start
Grant period ended 8/1/2023-11/30/2024
Required Amount $3,082,865
8/1/2023 – 11/30/2024
In-kind non-cash $1,558,451
E-rate non-cash 272,960
Universal Pre-K funding 1,551,599
Program In-Kind $3,383,010
Requirement Met