Notes to SEFA
Title: NONCASH COMMODITIES
Accounting Policies: GENERAL INFORMATION
The accompanying schedule of expenditures of federal awards presents the activities of the federal financial assistance programs of Wissahickon Charter School (the School). Financial awards received directly from federal agencies, as well as financial assistance passed through other governmental agencies or nonprofit organizations, are included in the
schedule.
BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the School and is presented on the accrual basis of accounting. 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 for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: Wissahickon Charter School has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The fair value of the noncash commodities are recorded as provided by the Pennsylvania Department of Agriculture.