Notes to SEFA
Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Expenditures reported on the schedule of expenditures of federal and state awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in
the Uniform Guidance, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards includes the federal and state grant activity of Orenda Education dba Orenda Charter Schools (the Organization) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: NOTE 3 - NON-PROFIT CHARTER SCHOOL CHART OF ACCOUNTS
Accounting Policies: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Expenditures reported on the schedule of expenditures of federal and state awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in
the Uniform Guidance, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance.
For all federal and state programs, the Organization used the net asset classes and codes specified by Texas Education Agency (TEA) in the Special Supplement to Financial Accounting and Reporting, Non- Profit Charter School Chart of Accounts. Temporarily restricted net asset codes are used to account for resources restricted to or designated for specific purposes by the grantor. Federal and state financial assistance is generally accounted for in temporarily restricted net asset codes.
Title: NOTE 4 - OTHER DISCLOSURES
Accounting Policies: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Expenditures reported on the schedule of expenditures of federal and state awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in
the Uniform Guidance, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance.
There were no loans or loan guarantees outstanding at year end. The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. The Organization did not disburse any federal or state awards to subrecipients for the year ended August
31, 2023.