Notes to SEFA
Title: Basis of Accounting
Accounting Policies: Expenditures reported on the schedule are reported on the modified 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: CAS is reimbursed based on actual administrative costs incurred pursuant to the grant agreement. Accordingly, CAS did not elect to use the 10 percent de minimis indirect cost rate as allowed for in section 2 CFR ?200.414.
The accompanying schedule of expenditures of federal awards (schedule) includes the Center for Academic Success, Inc.s (CAS) federal grant activity 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Title: Federal Assistance Listings (FAL) Numbers
Accounting Policies: Expenditures reported on the schedule are reported on the modified 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: CAS is reimbursed based on actual administrative costs incurred pursuant to the grant agreement. Accordingly, CAS did not elect to use the 10 percent de minimis indirect cost rate as allowed for in section 2 CFR ?200.414.
The program titles and FAL numbers were obtained from the federal or pass-through grantor or the 2022 Federal Assistance Listings.
Title: Subrecipients
Accounting Policies: Expenditures reported on the schedule are reported on the modified 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: CAS is reimbursed based on actual administrative costs incurred pursuant to the grant agreement. Accordingly, CAS did not elect to use the 10 percent de minimis indirect cost rate as allowed for in section 2 CFR ?200.414.
CAS did not have any subrecipients for fiscal year 2022.