Audit 1603

Accounting Policies: General The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards of Hynes Charter School Corporation (the “School”). The School’s reporting entity is defined in Note 1 to the financial statements for the year ended June 30, 2023. All federal awards received directly from federal agencies are included on the schedule, as well as federal awards passed-through other government agencies. Basis of Accounting The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the School’s financial statements for the year ended June 30, 2023. De Minimis Rate Used: Y Rate Explanation: Indirect Cost Rate The School has elected to use the 10% de minimus indirect cost rate as allowed under Uniform Guidance.