Audit 15864

Accounting Policies: NOTE A – BASIS OF PRESENTATION The schedule includes the federal award activity of the Horizon Science Academy Denison Middle School under programs of the federal government for the fiscal year ended June 30, 2023 and is prepared in accordance with the accrual basis of accounting. The information on this schedule is prepared in accordance with the requirements of Title 2 US 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 Horizon Science Academy Denison Middle School, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Horizon Science Academy Denison Middle School. NOTE B – INDIRECT COST RATE CFR 200.414 allows a non-federal entity that has never received a negotiated indirect cost rate to charge a de minimis rate of 10% of modified total direct costs to indirect costs. The Academy has not elected to use the 10% de minimis indirect cost rate. NOTE C – PASS-THROUGH ENTITY NUMBERS OAKS did not assign pass-through numbers for fiscal year 2023. NOTE D – CHILD NUTRITION CLUSTER Commingled with state and local revenue from sales of breakfasts and lunches; assumed expenditures were made on a first-in, first-out basis. NOTE E – TRANSFERS TO SCHOOL WIDE BUILDING PROGRAM The following amounts were transferred to the Schoolwide Building Program Fund based on ODE administrative action and transferability guidelines during fiscal year 2023: SCHOOLWIDE POOL Fund ALN Transfer In Transfer Out Schoolwide Building Program Fund N/A $ 455,467 $ - Title I Grants to Local Education Agencies 84.010A - 280,040 Title I Non-competitive, Supplemental SI 84.010A - 46,720 Title I Expanding Opportunities for Each Child Non-Competitive Grant 84.010A - 20,833 Special Education - Grants to States 84.027A - 64,336 Special Education - Preschool Grants 84.173A - 544 Supporting Effective Instruction 84.367A - 20,715 Student Support and Academic Enrichment 84.424A - 22,279 Total Schoolwide Pool $ 455,467 $ 455,467 NOTE F – PASS THROUGH FUNDS The Horizon Science Academy Denison Middle School was awarded federal program allocations to be administered on their behalf by the Horizon Science Academy Lorain. For 2023, the Horizon Science Academy Denison Middle School received a $5,146 allocation for the English Language Acquisition State Grant (ALN 84.365A) that was administered by the Horizon Science Academy Lorain. De Minimis Rate Used: N Rate Explanation: N/A