Notes to SEFA
Title: 1. Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the GAAP 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. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the schedule) includes the federal award activity of the Philadelphia Hebrew Public Charter School, Pennsylvania (the School) under programs of the federal government for the year ended June 30, 2022. 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 or changes in net position.
Title: 4. Matching Costs
Accounting Policies: Expenditures reported on the schedule are reported on the GAAP 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. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Matching costs, i.e., the Philadelphia Hebrew Public Charter Schools share of certain program costs, are not included in the reported expenditures.
Title: 5. Employee Retention Credit
Accounting Policies: Expenditures reported on the schedule are reported on the GAAP 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. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Philadelphia Hebrew Public Charter School, Philadelphia, Pennsylvania is the recipient of a federal financial award program that does not get reported on the Schedule of Expenditures of Federal Awards. Federal Revenues -Basic financial statements$1,506,015Employee retention credit182,451Total Schedule of Expenditure of Federal Awards$1,332,502
Title: 6. Subrecipients
Accounting Policies: Expenditures reported on the schedule are reported on the GAAP 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. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Philadelphia Hebrew Public Charter School did not pass through any awards to subrecipients during the fiscal year.