Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal awards programs of the Bricolage Academy (the School). The School reporting entity is defined in the notes to the financial statements for the year ended June 30, 2021. All federal awards received directly from federal agencies are included on the schedule as well as federal awards passed through other government agencies. The schedule of expenditures of federal awards is presented using the modified accrual basis of accounting, which is described in the notes to the School 's basic financial statements for the year ended June 30, 2021. Commodities received, which are non-cash revenue, are valued at prices provided by the U.S. Department of Agriculture. Any received but unused commodities are recorded as deferred revenue until used.
De Minimis Rate Used: N
Rate Explanation: The School utilized preapproved indirect cost rates as provided by its pass-through agency, the Louisiana Department of Education, for certain federal grant awards during the year ended June 30, 2022.