TITLE
Title
Head Start Annual & Final Federal Financial Report
end
BACKGROUND INFORMATION
All Head Start grantees are required to submit financial reports detailing both the cash transactions made for its federal award(s) and separate reports detailing the expenditures made for the same award(s). For most grantees, filing requirements are satisfied using the same report, Federal Financial Report standard form 425 (SF-425). The annual report is for the period ending July, 2019 and the final report of for the period ending October, 2019. This concludes the 04CH4752 year five of five grant cycle.
In addition, the Non-Federal Share amount is reported in the final SF425. The Head Start Act mandates that the Federal share of the total costs of the Head Start program will not exceed 80 percent of the total grantee budget unless a waiver has been granted (Head Start Act Section 640(b)). If the grantee agency fails to obtain and adequately document the required 20 percent non-Federal share (or other approved match) a disallowance of Federal funds may be taken. Non-Federal share must meet the same criteria for allowability as other costs incurred and paid with Federal funds. The breakdown of the Non-Federal share is included.
RECOMMENDATION
Recommendation
Informational.