Notes to SEFA
Title: Charter School
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. Pass-through entity identifying numbers are presented where applicable. Wisconsin Department of Workforce Development child care assistance direct payments are not included on the Schedule due to the funding not being subject to the Uniform Guidance or the Guidelines. These direct payments totaling $923,368 are included in child care and program fees on the statements of activities.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization earned $5,954,610 of revenue from the Non-Instrumentality Charter School. The grant received from Milwaukee Public Schools could not be confirmed by the funding source as being either federal or state monies and was, therefore, not included in the Schedule. These monies are reflected as fees for services on the statements of activities.
Title: Basis of Presentation
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. Pass-through entity identifying numbers are presented where applicable. Wisconsin Department of Workforce Development child care assistance direct payments are not included on the Schedule due to the funding not being subject to the Uniform Guidance or the Guidelines. These direct payments totaling $923,368 are included in child care and program fees on the statements of activities.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and state grant activity of La Causa, Inc. (the Organization) under programs of the federal and state government for the year ended December 31, 2022. The information in this 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) and the State Single Audit Guidelines (Guidelines). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.
Title: Reserve Supplemental Schedules
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. Pass-through entity identifying numbers are presented where applicable. Wisconsin Department of Workforce Development child care assistance direct payments are not included on the Schedule due to the funding not being subject to the Uniform Guidance or the Guidelines. These direct payments totaling $923,368 are included in child care and program fees on the statements of activities.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Included in deferred revenue on the statements of financial position are the amounts due to purchaser reflected on the reserve supplementary schedules. Management intends to use the amount recorded in deferred revenue to provide program services in future years.The Organization has been contacted by certain funding sources to settle excess reserves. Any unpaid amounts that have been requested by the purchaser as of December 31, 2022 are recorded as separate payables on the statements of financial position.
Title: Subrecipients
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. Pass-through entity identifying numbers are presented where applicable. Wisconsin Department of Workforce Development child care assistance direct payments are not included on the Schedule due to the funding not being subject to the Uniform Guidance or the Guidelines. These direct payments totaling $923,368 are included in child care and program fees on the statements of activities.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization did not have any subrecipient expenditures for the year ended December 31, 2022.