Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal award programs of Mile High Kids and Community Development, Inc. (hereafter referred to as MHK) on the accrual basis of accounting for the year ended November 30, 2025. All federal awards received directly and indirectly from federal agencies are included in this Schedule. Because the Schedule presents only a selected portion of the operations of MHK, they are not intended to, and do not, present the financial position, activities, or cash flows in accordance with generally accepted accounting principles. Expenditures reported on the Schedule 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, whereby certain types of expenditures are not allowable or are limited as to reimbursement.
Grantees under the Head Start Program, as a matching requirement, are required to received at least 20% of the costs of the program through cash or in-kind contributions. Contributions described above, also described as non-Federal Share, include items recorded as contributions revenue and volunteer services that are not recorded as contributions revenue in the financial statements. In-kind contributions relating to the matching requirements for the year ended November 2025 are as follows:
MHK has not elected to use the 15-percent de minimis indirect cost rate allowed under the Uniform Guidance.