Audit 13030

Title: BASIS OF PRESENTATION Accounting Policies: All Federal grant operations of Richard Wright Public Charter School d/b/a Richard WrightPublic Charter School for Journalism and Media Arts (the School) are included in the scopeof Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (the SingleAudit) for the year ended June 30, 2023. The Single Audit was performed in accordance withthe provisions of the OMB Compliance Supplement (the Compliance Supplement).Compliance testing of all requirements, as described in the Compliance Supplement, wasperformed for the major grant program noted below. The programs on the schedule ofexpenditures of Federal awards represent all Federal award programs for fiscal year 2023cash or non-cash expenditure activities. For our single audit testing, we tested Federal awardprograms to ensure coverage of at least 20% of Federally granted funds. Our actual coveragewas 70%. De Minimis Rate Used: N Rate Explanation: Management has elected not to use the 10-percent de minimis indirect cost rate as allowedunder the Uniform Guidance. The accompanying Schedule includes theFederal award activity of theSchooland ispresented on the accrual basis of accounting. The information in the Schedule is presented in accordancewith the requirements of the cost principles contained in theSingle Audit.