Audit 291303

Title: Basis of Presentation Accounting Policies: The accompnaying schedule of expenditures of federal awards includes the federal grant activity of Urban Academy of Greater Pittsburgh Charter School and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance) of States, Local Governments, and Non-Profit Organizations' requirements of OMB. Therefore, some amounts presented in this schedle may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: Due to the nature of Urban Academy of Great Pittsburgh Charter School federal awards, the entity has not elected to use the 10% de minimis indirect cost rate The accompnaying schedule of expenditures of federal awards includes the federal grant activity of Urban Academy of Greater Pittsburgh Charter School and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance) of States, Local Governments, and Non-Profit Organizations' requirements of OMB. Therefore, some amounts presented in this schedle may differ from amounts presented in, or used in the preparation of, the basic financial statements.