Notes to SEFA
Accounting Policies: Expenditures reported in 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 expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Monument Academy Public Charter School does not seek reimbursement for indirect costs from federal grants, and there is no calculation as part of the application process