Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Child Care Resources, Inc. under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Child Care Resources, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Child Care Resources, Inc.
De Minimis Rate Used: N
Rate Explanation: Child Care Resources, Inc. did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles, except that reported Federal expenditures include purchases of long-lived assets, which are capitalized as assets and not reported as expenses in the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note 4. Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Child Care Resources, Inc. under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Child Care Resources, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Child Care Resources, Inc.
De Minimis Rate Used: N
Rate Explanation: Child Care Resources, Inc. did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization did not provide awards to subrecipients during the year ended September 30, 2022.
Title: Note 5. Child Care and Development Cluster
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Child Care Resources, Inc. under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Child Care Resources, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Child Care Resources, Inc.
De Minimis Rate Used: N
Rate Explanation: Child Care Resources, Inc. did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Although the Child Care Mandatory and Matching Funds of the Child Care and Development Fund (ALN 93.596) is part of the Child Care and Development Fund Cluster, no funds were received or expended under this ALN during the year ended September 30, 2022.