Notes to SEFA
Title: Title I RAG Expenditures
Accounting Policies: Expenditures reported on the Schedule are reported on the 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Included in the expenditures column of the SEFA for Title I, Part A RAG are $262,187 of fiscal year 2020-2021 expenditures. The Academy did not receive the grant award notification until July 2021. The grants period of performance was October 2020 through September 30, 2021. These expenditures were included as part of the major program determination for fiscal year ended June 30, 2022, and therefore, not included in the prior year expenditures column of the schedule of expenditures of federal awards.