Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards 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.
De Minimis Rate Used: N
Rate Explanation: The Organization allocates allowed direct costs to the grant program.
The schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Oklahoma Public School Resource Center, Inc. (the "Organization"), under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations ("CFR"), Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). 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: SUB-RECIPIENTS
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards 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.
De Minimis Rate Used: N
Rate Explanation: The Organization allocates allowed direct costs to the grant program.
Of the expenditures presented in the schedule of expenditures of federal awards, the Organization
provided awards to the following sub-recipients:
Sub-Recipient Award
College Bound Academy 40,333 $
Collegiate Hall 21,341
Comanche Academy 48,436
Dove Science Academy Tulsa 31,662
Harding Fine Arts Academy 768,199
Le Monde International School 11,156
Santa Fe South Schools 250,000
Tulsa Classical Academy 131,299
Tulsa Honor Academy MS 631,121
Western Gateway 142,338
WK Jackson Leadership Academy 177,960
$ 2,253,845
Title: OUTSTANDING FEDERAL LOANS
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards 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.
De Minimis Rate Used: N
Rate Explanation: The Organization allocates allowed direct costs to the grant program.
The Organization has no federal loan obligations as of June 30, 2023.