Notes to SEFA
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of Child Care Resource and Referral Network under programs of the federal government for the year ended June 30, 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 selected portion of the operations of Child Care Resource and Referral Network, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Child Care Resource and Referral Network.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: OTHER REQUIRED DISCLOSURES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of Child Care Resource and Referral Network under programs of the federal government for the year ended June 30, 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 selected portion of the operations of Child Care Resource and Referral Network, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Child Care Resource and Referral Network.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
There were no payments to subrecipients. There were no loans or loan guarantees outstanding at year-end. Child Care Resource & Referral Network had no Federal insurance in force at year-end.