Title: Note 1 ‐ Basis of Presentation
Accounting Policies: Note 1 ‐ Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Assistance Unlimited, Inc., d/b/a Central Charter School (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) 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 Organization, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Organization. Note 2 ‐ Summary of Significant 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, as
applicable. Note 3 ‐ Indirect Cost Rate The Organization did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Note 4 ‐ Contingency The grant revenue amounts received are subject to audit and adjustment. If any expenditures or expenses are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor agencies would become a liability of the Organization. In the opinion of management, all grant expenditures are in compliance with the terms of the grant agreements and applicable Federal and state laws and other applicable regulations.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Assistance Unlimited, Inc., d/b/a Central Charter School (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) 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 Organization, it is not intended to and does not present the financial position,changes in net position, or cash flows of the Organization.
Title: Note 2 ‐ Summary of Significant Accounting Policies
Accounting Policies: Note 1 ‐ Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Assistance Unlimited, Inc., d/b/a Central Charter School (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) 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 Organization, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Organization. Note 2 ‐ Summary of Significant 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, as
applicable. Note 3 ‐ Indirect Cost Rate The Organization did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Note 4 ‐ Contingency The grant revenue amounts received are subject to audit and adjustment. If any expenditures or expenses are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor agencies would become a liability of the Organization. In the opinion of management, all grant expenditures are in compliance with the terms of the grant agreements and applicable Federal and state laws and other applicable regulations.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
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, as
applicable.
Title: Note 3 ‐ Indirect Cost Rate
Accounting Policies: Note 1 ‐ Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Assistance Unlimited, Inc., d/b/a Central Charter School (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) 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 Organization, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Organization. Note 2 ‐ Summary of Significant 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, as
applicable. Note 3 ‐ Indirect Cost Rate The Organization did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Note 4 ‐ Contingency The grant revenue amounts received are subject to audit and adjustment. If any expenditures or expenses are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor agencies would become a liability of the Organization. In the opinion of management, all grant expenditures are in compliance with the terms of the grant agreements and applicable Federal and state laws and other applicable regulations.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
The Organization did not elect to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
Title: Note 4 ‐ Contingency
Accounting Policies: Note 1 ‐ Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Assistance Unlimited, Inc., d/b/a Central Charter School (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) 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 Organization, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Organization. Note 2 ‐ Summary of Significant 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, as
applicable. Note 3 ‐ Indirect Cost Rate The Organization did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Note 4 ‐ Contingency The grant revenue amounts received are subject to audit and adjustment. If any expenditures or expenses are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor agencies would become a liability of the Organization. In the opinion of management, all grant expenditures are in compliance with the terms of the grant agreements and applicable Federal and state laws and other applicable regulations.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
The grant revenue amounts received are subject to audit and adjustment. If any expenditures or
expenses are disallowed by the grantor agencies as a result of such an audit, any claim for
reimbursement to the grantor agencies would become a liability of the Organization. In the opinion
of management, all grant expenditures are in compliance with the terms of the grant agreements
and applicable Federal and state laws and other applicable regulations.