Audit 11048

Title: PURPOSE OF THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Wilder’s Foundation dba Wilder’s Preparatory Academy Charter School (the “Charter”) and is presented on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The amounts reported as federal expenditures were obtained from the Charter’s general ledger. Because the Schedule presents only a selected portion of the operations of the Charter, it is not intended to and does not present the financial position, changes in net assets, and cash flows of the Charter. De Minimis Rate Used: N Rate Explanation: The Charter did not elect to use the ten percent de minimis indirect cost rate. No indirect cost was claimed. The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Wilder’s Foundation dba Wilder’s Preparatory Academy Charter School (the “Charter”) and is presented on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The amounts reported as federal expenditures were obtained from the Charter’s general ledger. Because the Schedule presents only a selected portion of the operations of the Charter, it is not intended to and does not present the financial position, changes in net assets, and cash flows of the Charter. The Charter did not elect to use the ten percent de minimis indirect cost rate.