Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Cyber Academy of South Carolina (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 the audit 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 statements of financial position, activities, and cash flows of the School.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.