Audit 13400

Title: Reconciliation of Federal Awards Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of Pennsylvania Cyber Charter School (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 (CFR), Part 200, Uniform Administrative Requirements, Cost Principles, and the Audit Requirements of Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the School, it is not intended to and does not present the financial positions, changes in fund balance or cash flows of the School. The Schedule is based upon information provided by the various funding sources to the School and other information available at the time the Schedule was prepared. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The following reconciles the federal awards shown on the Schedule of Expenditures of Federal Awards to the federal revenue reported in the financial statements for fiscal year ended June 30, 2023. Federal Awards revenue per the Schedule of Expenditures of Federal Awards $6,619,485, less Pass-through awards recorded in the Local Revenue -$2,108,702, equals Federal Revenue per the Financial Statements of $4,510,783.