Audit 16512

Accounting Policies: 1. Summary of Significant Accounting Policies: Basis of Presentation: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs administered by Westminster Community Charter School (the School), an entity as defined in Note 1 to the School's financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other governmental agencies, are included on the Schedule of Expenditures of Federal Awards. Basis of Accounting: The School uses the accrual basis of accounting for federal programs. The amounts reported as expenditures generally were obtained from the appropriate financial reports for the applicable programs and periods. The amounts reported in these federal financial reports are prepared from records maintained for each program, which are periodically reconciled with the School's financial reporting system. Indirect Costs: The School does not use the 10% de minimis indirect cost rate permitted by the Uniform Guidance. Non-Monetary Federal Program: The School is the recipient of federal award programs that do not result in cash receipts or disbursements, termed "nonmonetary programs." During the year ended June 30, 2022, the School used $26,864 worth of commodities under the National School Lunch Program (Assistance Listing Number 10.555). De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.