audit-2005

Judi

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CHILD CARE RESOURCESFINANCIAL STATEMENTSWith Independent Auditor's ReportYEARS ENDED DECEMBER 31, 2005 AND 2004OMB A-133 SUPPLEMENTAL FINANCIAL REPORTSYEAR ENDED DECEMBER 31, 2005CHILD CARE RESOURCESFINANCIAL STATEMENTSYEARS ENDED DECEMBER 31, 2005 AND 2004TABLE OF CONTENTSINDEPENDENT AUDITOR'S REPORT 2STATEMENTS OF FINANCIAL POSITIONDecember 31, 2005 and 2004 4STATEMENTS OF UNRESTRICTED ACTIVITYYears ended December 31, 2005 and 2004 5STATEMENTS OF CHANGES IN NET ASSETS 6STATEMENTS OF FUNCTIONAL EXPENSES 7STATEMENTS OF CASH FLOWSYears ended December 31, 2005 and 2004 8 - 9NOTES TO FINANCIAL STATEMENTS 10 - 15SUPPLEMENTARY INFORMATIONSchedule of Expenditures of Federal AwardsYear ended December 31, 2005 17Report on Compliance and on Internal Control Over Financial Reporting Based on an Audit of Financial Statements Performedin Accordance with Government Auditing Standards 18Report on Compliance with Requirements Applicable to EachMajor Program and on Internal Control Over Compliance inAccordance with OMB Circular A-133 20Schedule of Findings and Questioned Costs 22Independent Auditor's Report on Schedule of Non-Federal Governmental Awards 23Schedule of Expenditures of Non-Federal Governmental AwardsYear ended December 31, 2005 241INDEPENDENT AUDITOR'S REPORTMarch 17, 2006Board of DirectorsChild Care ResourcesSeattle, WashingtonWe have audited the accompanying statements of financial position of Child Care Resources, anonprofit ...

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• Publié par: Chiod
• Nombre de lectures: 73
• Langue: English

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CHILD CARE RESOURCES

FINANCIAL STATEMENTS With Independent Auditor's Report

YEARS ENDED DECEMBER 31, 2005 AND 2004

OMB A-133 SUPPLEMENTAL FINANCIAL REPORTS YEAR ENDED DECEMBER 31, 2005

CHILD CARE RESOURCES FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2005 AND 2004 TABLE OF CONTENTS

INDEPENDENT AUDITOR'S REPORT STATEMENTS OF FINANCIAL POSITION December 31, 2005 and 2004 STATEMENTS OF UNRESTRICTED ACTIVITY Years ended December 31, 2005 and 2004 STATEMENTS OF CHANGES IN NET ASSETS Years ended December 31, 2005 and 2004 STATEMENTS OF FUNCTIONAL EXPENSES Years ended December 31, 2005 and 2004 STATEMENTS OF CASH FLOWS Years ended December 31, 2005 and 2004 NOTES TO FINANCIAL STATEMENTS SUPPLEMENTARY INFORMATION Schedule of Expenditures of Federal Awards Year ended December 31, 2005 Report on Compliance and on Internal Control Over Financial Reporting Based on an Audit of Financial Statements Performed in Accordance withGovernment Auditing Standards Report on Compliance with Requirements Applicable to Each Major Program and on Internal Control Over Compliance in Accordance withOMB Circular A-133 Schedule of Findings and Questioned Costs Independent Auditor's Report on Schedule of Non-Federal Governmental Awards Schedule of Expenditures of Non-Federal Governmental Awards Year ended December 31, 2005

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March 17, 2006

Board of Directors Child Care Resources Seattle, Washington

INDEPENDENT AUDITOR'S REPORT

We have audited the accompanying statements of financial position of Child Care Resources, a nonprofit corporation, as of December 31, 2005 and 2004, and the related statements of unrestricted activity, changes in net assets, functional expenses, and cash flows for the years then ended. These financial statements are the responsibility of Child Care Resources management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America,Government Auditing Standards,issued by the Comptroller General of the United States; and the provisions of Office of Management and Budget (OMB) Circular A-133,Audits of States, Local Governments, and Non-profit Organizations.Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Child Care Resources as of December 31, 2005 and 2004, and the changes in its net assets and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.

In accordance withGovernment Auditing Standards,we have also issued our report dated March 17, 2006 on our consideration of Child Care Resources internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grants. This report is an integral part of an audit performed in accordance withGovernment Auditing Standards and should be read in conjunction with this report in considering the results of our audit.

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The accompanying schedule of expenditures of federal awards is presented for purposes of additional analysis as required by U.S. Office of Management and Budget Circular A-133,Audits of States, Local Governments, and Non-Profit Organizations,and is not a required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.

Jacobson Jarvis & Co, PLLC

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CHILD CARE RESOURCES STATEMENTS OF FINANCIAL POSITION DECEMBER 31, 2005 AND 2004

ASSETS

2005 2004 Current Assets Cash and cash equivalents $ 459,374 $ 624,144 Certificates of deposit 675,695 457,825 Accounts receivable 360,583 254,213 Promises to give 406,688 142,192 Prepaid expenses  86,948 71,414 Total Current Assets 1,989,288 1,549,788 Equipment, net of accumulated depreciation of $228,870 and $204,825 96,123 104,358 Promises to Give - long-term  70,000 - $ 2,155,411 $ 1,654,146

Current Liabilities Accounts payable Accrued liabilities Cash held for others Net Assets Unrestricted Temporarily restricted

      See notes to financial statements.

LIABILITIES AND NET ASSETS

$ 117,283 $ 84,331  117,232 104,381  14,652 12,911 Total Current Liabilities  249,167 201,623

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 1,201,219 1,149,819  705,025 302,704 Total Net Assets  1,906,244 1,452,523 $ 2,155,411 $ 1,654,146

CHILD CARE RESOURCES STATEMENTS OF UNRESTRICTED ACTIVITY YEARS ENDED DECEMBER 31, 2005 AND 2004

2005 2004 Unrestricted Public Support and Revenue Unrestricted Public Support Government contracts and grants $ 2,278,497 $ 1,945,381 United Way of King County 132,346 97,903 Contributions and private grants 376,505 318,697 In-kind contributions  40,054 34,209 Total Unrestricted Public Support  2,827,402 2,396,190 Revenue Employer fees 21,670 35,630 Program services fees 121,634 141,264 Investment income 22,314 17,394   Other income  17,699 11,610 Total Revenue 183,317 205,898 Net Assets Released from Restrictions Satisfaction of purpose restrictions 276,486 290,757 Satisfaction of time restrictions  119,770 102,769 Total Unrestricted Public Support, Revenue, and Other Support  3,406,975 2,995,614 Expenses Program services Management and general Fundraising

      See notes to financial statements.

 2,720,102 2,456,256  363,298 326,843  272,175 275,155 Total Expenses  3,355,575 3,058,254 Change in Unrestricted Net Assets  $ 51,400 $ (62,640)

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CHILD CARE RESOURCES STATEMENTS OF CHANGES IN NET ASSETS YEARS ENDED DECEMBER 31, 2005 AND 2004

2005 2004 Temporarily Temporarily Unrestricted Restricted Total Unrestricted Restricted Total $ 3,010,719 $ 3,010,719 $ 2,602,088 $ 2,602,088

Public Support, Revenue, and Other Support Unrestricted public support and revenue Restricted public support Contributions $ 696,530 696,530 $ 259,684 259,684 United Way of King County 102,047 102,047 92,769 92,769 Net assets released from restrictions  396,256 (396,256) - 393,526 (393,526) - Total Public Support, Revenue, and Other Support 3,406,975 402,321 3,809,296 2,995,614 (41,073) 2,954,541 Expenses 3,355,575 3,355,575 3,058,254 3,058,254 Change in Net Assets 51,400 402,321 453,721 (62,640) (41,073) (103,713) Net Assets - beginning of year  1,149,819 302,704 1,452,523 1,212,459 343,777 1,556,236 Net Assets - end of year  $ 1,201,219 $ 705,025 $ 1,906,244 $ 1,149,819 $ 302,704 $ 1,452,523

        See notes to financial statements. 6

CHILD CARE RESOURCES STATEMENTS OF FUNCTIONAL EXPENSES YEARS ENDED DECEMBER 31, 2005 AND 2004

2005 PROGRAM SERVICES Provider Services and Total Management Capacity Parent Program and Total Building Services Services General Fundraising Expenses Salaries and wages $ 502,941 $ 494,510 $ 997,451 $ 235,290 $ 150,144 $ 1,382,885 Employee benefits 61,374 65,507 126,881 22,964 11,915 161,760 Payroll taxes  39,017 42,009 81,026 17,788 10,953 109,767 Total Salaries and Related Expenses 603,332 602,026 1,205,358 276,042 173,012 1,654,412 Parent and provider assistance 127,668 816,547 944,215 - - 944,215 Professional fees 67,494 24,862 92,356 31,132 20,875 144,363 Occupancy 58,581 46,416 104,997 16,047 12,567 133,611 MIS expense 49,573 52,712 102,285 - - 102,285 Supplies 25,571 12,690 38,261 10,710 27,718 76,689 Depreciation 19,704 16,503 36,207 6,464 2,848 45,519 Staff development, training, and meetings 22,598 7,289 29,887 6,396 3,130 39,413 Communication 17,423 15,204 32,627 2,975 2,279 37,881 Printing and publications 16,166 11,065 27,231 1,229 4,589 33,049 Dues, subscriptions, and advertising 11,426 14,594 26,020 2,032 2,908 30,960 In-kind expenses 5,586 6,890 12,476 - 10,703 23,179 Postage and shipping 8,818 9,385 18,203 1,916 2,717 22,836 Equipment rent and repair 11,859 2,264 14,123 2,123 3,689 19,935 Travel, lodging, and meals 9,463 7,445 16,908 1,168 842 18,918 Insurance 6,083 3,604 9,687 3,984 819 14,490 Other expenses  4,936 4,325 9,261 1,080 3,479 13,820 Total Expenses  $1,066,281 $1,653,821 $ 2,720,102 $ 363,298 $ 272,175 $ 3,355,575

       See notes to financial statements. 7

2004 PROGRAM SERVICES Provider Services and Total Management Capacity Parent Program and Total Building Services Services General Fundraising Expenses $ 511,357 $ 459,234 $ 970,591 $ 215,849 $ 153,116 $ 1,339,556  62,029 56,075 118,104 14,930 17,596 150,630  41,299 36,039 77,338 15,602 13,639 106,579  614,685 551,348 1,166,033 246,381 184,351 1,596,765  52,953 741,406 794,359 - - 794,359  48,901 23,616 72,517 29,726 16,718 118,961  56,910 43,132 100,042 17,038 12,608 129,688  41,849 43,570 85,419 - - 85,419  20,557 7,378 27,935 3,280 22,095 53,310  19,810 14,441 34,251 8,293 3,817 46,361  12,210 5,125 17,335 6,958 4,132 28,425  18,461 13,632 32,093 2,957 2,063 37,113  16,081 7,216 23,297 1,266 4,186 28,749  5,418 11,225 16,643 1,817 1,575 20,035  14,446 7,856 22,302 - 14,962 37,264  8,203 10,263 18,466 1,693 3,717 23,876  12,298 2,801 15,099 1,876 1,572 18,547  7,308 4,212 11,520 1,379 1,021 13,920  6,251 4,684 10,935 3,518 794 15,247  4,481 3,529 8,010 661 1,544 10,215 $ 960,822 $ 1,495,434 $ 2,456,256 $ 326,843 $ 275,155 $ 3,058,254

CHILD CARE RESOURCES STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2005 AND 2004

2005 2004 Cash Flows from Operating Activities Cash received from: Government agencies $ 2,168,817 $ 2,045,321 Donors 947,511 861,209 Program participants 126,500 133,388 Employers 21,670 35,630 Investment income 20,854 15,320 Other income 16,143 12,194 Cash paid to: Employees (1,721,879) (1,669,354) Vendors (1,534,729) (1,307,944) Net Cash Provided by Operating Activities  44,887 125,764 Cash Flows from Investing Activities Maturities of certificates of deposit and sales of investments 398,623 367,717 Purchases of certificates of deposit (587,871) (200,000) Purchases of equipment  (20,409) (12,125) Net Cash (Used) Provided by Investing Activities  (209,657) 155,592 Change in Cash and Cash Equivalents (164,770) 281,356 Cash and Cash Equivalents - beginning of year  624,144 342,788 Cash and Cash Equivalents - end of year  $ 459,374 $ 624,144

      See notes to financial statements.

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CHILD CARE RESOURCES STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2005 AND 2004

Reconciliation of Change in Net Assets to Net Cash Flows from Operating Activities: Change in net assets Adjustments to reconcile change in net assets to net cash provided by operating activities Depreciation Loss on investments Reinvested investment earnings Donated investments Donated equipment (Increase) decrease in Accounts receivable Promises to give Prepaid expenses Decrease (increase) in Accounts payable Accrued liabilities Cash held for others

2005 2004 $ 453,721 $ (103,713)  45,519 46,361  2,605 1,622  (4,065) (3,696)  (27,162) (4,925)  (16,875) -  (106,370) 92,648  (334,496) 94,747  (15,534) 30,202  32,952 (36,291)  12,851 3,420  , 5,389  1 741 Net Cash Provided by Operating Activities  $ 44,887 $ 125,764

      See notes to financial statements.

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CHILD CARE RESOURCES

NOTES TO FINANCIAL STATEMENTS

YEARS ENDED DECEMBER 31, 2005 AND 2004

NOTE A  ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES Child Care Resources (the Agency), a not-for-profit agency, was incorporated on November 1, 1989 as the result of a broad, community-based planning effort to coordinate child care resource and referral services. During 1991, the Agency changed its name from Child and Family Resource and Referral to Child Care Resources. Design of this agency involved over 75 members of the community, including employers, child care providers, parents, government staff, and United Way. The Agency combined and expanded services that were formerly offered by the Crisis Clinic's Daycare Referral Service and Family Services Child and Family Resource Center. The Agency offers services in King County from their office located in Seattle, Washington. The Agency provides child care referral and related services to parents, employers, and employees. It provides training and technical assistance to child care providers and offers coordination for the community in addressing major child care policy issues. The Agency provides services through the following programs: Provider Services and Capacity Building Recruitment & Capacity Building- Increases new and existing child care programs focusing on infants, children with special needs, families needing non-standard hour care, and before- and after-school options. Increases the quality and availability of child care that is culturally and linguistically compatible with the needs of the child, predominantly in informal provider settings. Technical Assistance- Offers walk-in assistance, telephone assistance, and site visits to child care providers and the general community. Helps family and center based child care providers throughout King County, Washington, with the accreditation process and seeks to improve quality and accessibility of child care to underserved populations, including communities of color, rural communities, families with children with special needs, and low-income families; and provides leadership in child care issues, including adequacy of supply of child care facilities and the quality of services. A workroom, library, and conference room are available at each location. TrainingProvides workshops to licensed child care providers at each of the Agency's sites and- in the community on a variety of topics designed to increase the quality of care. Early Learning Network- Provides professional development advising, tuition/books payment for community and 4-year colleges, and coaching to assist teachers working in designated child care programs located in southeast and southwest Seattle with applying their coursework to insure the children in their classrooms are ready for school. Parent Services Information and Referral- Provides child care referral information to parents in King County, Washington using a computerized database and is offered via telephone and Internet.

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