Notes to SEFA
Accounting Policies: A. BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal
award activity of the Academy under programs of the federal government for the year ended June 30,
2023. The information on this Schedule is prepared 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). Because the Schedule presents only a
selected portion of the operations of the Academy it is not intended to and does not present the
financial position, changes in net position, or cash flows of the Academy.
B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such
expenditures are recognized following 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 may or may not be allowable or may be
limited as to reimbursement. The Academy has elected not to use the 10-percent de minimis indirect
cost rate as allowed under the Uniform Guidance.
C. CHILD NUTRITION CLUSTER
The Academy commingles cash receipts from the U.S. Department of Agriculture with similar State
grants. When reporting expenditures on this Schedule, the Academy assumes it expends federal monies
first.
D. FOOD DONATION PROGRAM
The Academy reports commodities consumed on the Schedule at the entitlement value.
nated food commodities to the respective program that benefitted
from the use of those donated food commodities.
E. TRANSFERS BETWEEN FEDERAL PROGRAMS
During the fiscal year 2023 the Academy made allowable transfers of $29,964 from the Title IV
Student Support and Academic Enrichment (Title IV) program to the Title II Supporting Effective
Instruction (Title II) Grant. The following table shows the gross amount drawn for the Title IIA
and Title IV programs during fiscal year 2023 and the amount transferred to the Title II program:
Program Title Federal ALN Number Amount
Title IIA Supporting Effective Instruction 84.367 $ 51,209
Transfer from Title IV Grants to Local Educational Agencies 84.424 $ 29,964
Transfer from Title I Grants 84.010 -
Total Title IIA Supporting Effective Instruction $ 81,173
Title IV Student Support and Academic Enrichment 84.424 $ 29,964
Transfer to Title I Grants to Local Educational Agencies 84.010 $ -
Transfer to Title IIA Grants to Local Educational Agencies 84.367 (29,964)
Total Title IV Supporting Effective Instruction $ -
De Minimis Rate Used: N
Rate Explanation: N/A