The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Glen Cove Child Day Care Center, Inc. (the Center) under programs of the federal government for the year ended July 31, 2025. 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 Glen Cove Child Day Care Center, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Glen Cove Child Day Care Center, Inc
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.
Glen Cove Child Day Care Center, 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 Organization is in compliance with the 15% maximum administrative costs.
Food Head Start DSS CDBG Expenses per GAAP $142,835 $2,575,805 $ 474,359 $ 8,000 Subtract: Depreciation on capitalized items - (27,616) (6,862) Total grant award 142,835 2,548,189 461,607 8,000 Add: Change in Equipment and Leasehold Improvements 326,739 12,023 Less: Insurance (3,163) (1,177) Add: Prepaid 4,618 1,095 Less: In-kind donations - (659,297) - - Grant award $142,835 $2,217,086 $ 479,438 $ 8,000 The agency received $514,294 from the county for the day care program, of that amount, 93% is from Federal funds totaling of $479,438.
The Head Start program met its matching requirement as follows: Required amount $ 456,080 In-kind: consultants, professional fees, and goods $ 182,550 In-kind: volunteers 476,747 659,297 Requirement Met
Glen Cove Child Day Care Center reports in-kind volunteer services to meet grant matching requirements. These in-kind volunteer amounts are not recognized as in-kind revenue or expense under GAAP. A reconciliation of in-kind amounts reported for matching purposes to those recognized under GAAP is presented below. In-kind $ 659,297 Less: In-kind volunteers 476,747 In-kind per GAAP $ 182,550