Notes to SEFA
Title: BASIS OF PRESENTATION
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.
De Minimis Rate Used: N
Rate Explanation: Orlando After-School All-Stars, Inc. does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Orlando After-School All-Stars, Inc. (“ASAS”) under programs of the federal government for the year ended September 30, 2023. The information in the Schedule is presented 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 ASAS, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of ASAS.
Title: RECEIVABLE FROM THE STATE OF FLORIDA DEPARTMENT OF EDUCATION
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.
De Minimis Rate Used: N
Rate Explanation: Orlando After-School All-Stars, Inc. does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate.
ASAS submits requests for reimbursement to the State of Florida Department of Education on a periodic basis. At September 30, 2023, the State of Florida Department of Education owed ASAS $649,550 for reimbursements of federal awards.
Title: SUBRECIPIENTS
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.
De Minimis Rate Used: N
Rate Explanation: Orlando After-School All-Stars, Inc. does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate.
There were no federal awards provided to subrecipients.