Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The above schedule of expenditures of federal awards includes the federal grant activity of Exploration
Elementary Charter School for Science and Technology and is presented on the accrual basis of accounting.
The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of
Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule
may differ from amounts presented in, or used in the preparation of, the basic financial statements.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following, as applicable, the cost principles contained in Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Exploration Elementary Charter School for Science and Technology has elected not to use the 10 percent de
minimis indirect cost rate allowed under the Uniform Guidance.
The above schedule of expenditures of federal awards includes the federal grant activity of Exploration
Elementary Charter School for Science and Technology and is presented on the accrual basis of accounting.
The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of
Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule
may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The above schedule of expenditures of federal awards includes the federal grant activity of Exploration
Elementary Charter School for Science and Technology and is presented on the accrual basis of accounting.
The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of
Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule
may differ from amounts presented in, or used in the preparation of, the basic financial statements.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following, as applicable, the cost principles contained in Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Exploration Elementary Charter School for Science and Technology has elected not to use the 10 percent de
minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following, as applicable, the cost principles contained in Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,
wherein certain types of expenditures are not allowable or are limited as to reimbursement. Exploration Elementary Charter School for Science and Technology has elected not to use the 10 percent de
minimis indirect cost rate allowed under the Uniform Guidance.