Notes to SEFA
Title: Basis of Presentation
Accounting Policies: All Federal grant operations of Eagle Academy Public Charter School (the School) are included in the scope of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(the Single Audit). The Single Audit was performed in accordance with the provisions of the OMB Compliance Supplement (the Compliance Supplement). Compliance testing of all requirements, as described in the Compliance Supplement, was performed for the grant program noted below. The programs on the schedule of expenditures of Federal awards (the Schedule) represent all Federal award programs for fiscal year 2022 cash or non-cash expenditure activities. For single audit testing, we tested to ensure coverage of at least 20% of Federally granted funds. Actual coverage is 38% of total cash and non-cash Federal award program expenditures.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis ofaccounting in accordance with accounting principles generally accepted in the United States of America.
Title: Medicaid Administration Support Program
Accounting Policies: All Federal grant operations of Eagle Academy Public Charter School (the School) are included in the scope of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(the Single Audit). The Single Audit was performed in accordance with the provisions of the OMB Compliance Supplement (the Compliance Supplement). Compliance testing of all requirements, as described in the Compliance Supplement, was performed for the grant program noted below. The programs on the schedule of expenditures of Federal awards (the Schedule) represent all Federal award programs for fiscal year 2022 cash or non-cash expenditure activities. For single audit testing, we tested to ensure coverage of at least 20% of Federally granted funds. Actual coverage is 38% of total cash and non-cash Federal award program expenditures.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Medicaid expenditures of $153,309, is not included in the threshold amount to require an entity to have a Single Audit because there is already separate and sufficient monitoring of this program being done. However, for the purposes of the schedule of expenditures of Federal awards reporting, the Medicaid payments must be reported.