Notes to SEFA
Title: Note A – Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. The School has elected not to use the 10-
percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The School 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 awards (the “Schedule”) includes the federal award
activity of Focus Learning Academy of Northern Columbus (the “School”) under programs of the federal
government for the year ended June 30, 2023. 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 (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 position, changes in net position, or cash flows of the School.
Title: Note B – Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. The School has elected not to use the 10-
percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The School has elected not to use the 10-
percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. The School has elected not to use the 10-
percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note C – Transfers
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. The School has elected not to use the 10-
percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The School has elected not to use the 10-
percent de minimis indirect cost rate allowed under the Uniform Guidance.
The School generally must spend Federal assistance within 15 months of receipt. However, with Ohio
Department of Education (ODE) approval, a School can transfer (carryover) unspent Federal assistance to the
succeeding year, thus allowing the School a total of 27 months to spend the assistance. During fiscal year
2023, the ODE authorized the following transfers:
Title: Note D – Child Nutrition Cluster
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. The School has elected not to use the 10-
percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The School has elected not to use the 10-
percent de minimis indirect cost rate allowed under the Uniform Guidance.
The School commingles cash receipts from the U.S. Department of Agriculture with similar State grants.
When reporting expenditures on this Schedule, the School assumes it expends federal monies first.