Notes to SEFA
Accounting Policies: The accompanying schedule of federal awards (the Schedule) includes the federal grant activity of Detroit Academy of Arts and Sciences under programs of the federal government for the year ended June 30, 2022. Expenditures reported on the Schedule are reported on the same basis of accounting as the general purpose financial statements. The information in the 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). Therefore, some amounts presented in the schedule may differ from amounts presented in or used in preparation of the general purpose financial statements.Because the Schedule presents only a selected portion of the operations of Detroit Academy of Arts and Sciences, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows, if applicable, of Detroit Academy of Arts and Sciences. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.