Notes to SEFA
Title: NOTE A-BASIS OF PRESENTATIONS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of LEARN, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of 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. Amounts received by LEARN, Inc. from Federal awards were direct awards from the TRIO Cluster of programs.
De Minimis Rate Used: N
Rate Explanation: DE MIMINIS COST RATE DOES NOT APPLY. ONLY REVENUE OF ENTITY IS FEDERAL FUNDS.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of LEARN, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of 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. Amounts received by LEARN, Inc. from Federal awards were direct awards from the TRIO Cluster of programs.
Title: NOTE B-RECONCILIATION TO BASIC FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of LEARN, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of 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. Amounts received by LEARN, Inc. from Federal awards were direct awards from the TRIO Cluster of programs.
De Minimis Rate Used: N
Rate Explanation: DE MIMINIS COST RATE DOES NOT APPLY. ONLY REVENUE OF ENTITY IS FEDERAL FUNDS.
Because of depreciation expense, expenditures of Federal Awards in the Schedule of Expenditures of Federal Awards differ from expenditures of Federal Awards in the basic financial statements as follows:
Title: NOTE-C NONMONETARY
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of LEARN, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of 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. Amounts received by LEARN, Inc. from Federal awards were direct awards from the TRIO Cluster of programs.
De Minimis Rate Used: N
Rate Explanation: DE MIMINIS COST RATE DOES NOT APPLY. ONLY REVENUE OF ENTITY IS FEDERAL FUNDS.
There was no Federal or other nonmonetary assistance received by the organization