Title: NOTE A. BASIS OF PRESENTATION
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: Head Start of Rockland, 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 Agency is in compliance with the 15% maximum administrative costs.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal award activity of Head Start of Rockland, Inc. (“the Agency”) under programs of the
federal government for the year ended February 28, 2023. 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 Head Start of Rockland, Inc., it is not intended to and does not present the
financial position, changes in net assets, or cash flows of Head Start of Rockland, Inc.
Title: NOTE B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: Head Start of Rockland, 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 Agency is in compliance with the 15% maximum administrative costs.
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.
Title: NOTE C INDIRECT COST RATE
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: Head Start of Rockland, 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 Agency is in compliance with the 15% maximum administrative costs.
Head Start of Rockland, 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 Agency is in compliance with the 15% maximum administrative costs
Title: NOTE D. RECONCILIATION OF FINANCIAL STATEMENTS TO FEDERAL AWARDS
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: Head Start of Rockland, 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 Agency is in compliance with the 15% maximum administrative costs.
Head Start CACFP
Expenses per GAAP $11,318,220 $ 507,349
Admin cost per GAAP 1,617,719 15,901
Addback: Principal on debt paid - -
Addback: Capitalized costs 24,450 -
Subtract: Depreciation on
capitalized items (181,722) (580)
Less Expenses not covered by
Grant - -
Total grant award 12,778,667 522,670
Less: In-kind donations (1,026,692) -
Grant award $11,751,975 $ 522,670
Title: NOTE E. LOAN GUARANTEE PROGRAM
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: Head Start of Rockland, 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 Agency is in compliance with the 15% maximum administrative costs.
The loan guarantee program outstanding at the end of the year is included in the federal
expenditures presented in the schedule of expenditures of federal awards. The loans included
in the schedule of expenditure of federal awards consisted of the following:
ALN # Feb 28, 2023
Community Development Block Grants Section 108
Loan Guarantees .............................................................. 14.248 $ 270,000
Title: NOTE F. MATCHING REQUIREMENT
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: Head Start of Rockland, 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 Agency is in compliance with the 15% maximum administrative costs.
The Head Start program met its matching requirement as follows:
Head Start
Grant period ended 3/1/2022-2/28/2023
Required Amount $2,366,911
In-kind space $664,602
In-kind Supplies 390,936
In-kind Personnel 82,275
Universal Pre-K funding 1,582,002
County DSS and Town Grants 89,427
$2,809,242
Requirement met
EHS-CCP Comments
Grant period ended 9/1/2021-8/31/2022 $ 4,677 Waver Approved
In-kind non-cash EHSCCP
9/1/2021-8/31/2022 139,605
Requirement Met
Grant period ended 9/1/22-8/31/2023
Required Amount* 342,340 Partial Waver Approved
In-kind non-cash EHSCCP
9/1/2022-8/31/2023 175,657
In-kind non-cash EHSCCP $175,657
The agency is on track to meet its matching
requirement.
-