Notes to SEFA
Title: NOTE 4. FEDERAL FUNDS PROVIDED TO SUBRECIPIENTS
Accounting Policies: NOTE 1. BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Central Montana Head Start, Inc. (CMHS) under programs of the federal government for the year ended May 31, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance). Because the Schedule presents only a selection portion of the operations of CMHS, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CMHS. NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
CMHS provided no federal funds to subrecipients during the audit period.