Notes to SEFA
Federal grant funds are considered to be earned to the extent of expenses incurred under the provisions of the grant.
KAF received $2,432,430 of in-kind volunteer services for the Head Start / Early Head Start program. These amounts are not reflected in the financial statements since the criteria for recognition under the FASB-ASC has not been satisfied.
Subrecipients – There were no subrecipients in the current year.
Federal and state grants and contract revenue are reported in the statements of activities under net assets with donor restrictions, in amounts equal to grant expenses reported in the schedule of expenditures of federal awards.