Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Uniform Guidance Audits of States and Local Governments and Non Profit Organizations
De Minimis Rate Used: Y
Rate Explanation: 0.1
The information in this Schedule is presented in accordance with the requirement of Uniform Guidance, Audits of States, and Local Governments and Non-Profit Organizations. Therefore, the amounts presented in these schedules may differ from amounts presented in or used in the preparation of the basic financial statements. Because this Schedule presents only a selected portion of the operations of the School, it is not intended to, and does not represent, the financial position, changes in net assets, or cash flows from the School.
Title: Summary of Significant accounting policies
Accounting Policies: Uniform Guidance Audits of States and Local Governments and Non Profit Organizations
De Minimis Rate Used: Y
Rate Explanation: 0.1
Expenditures: Expenditures reported on the Schedules are reported on the accrual basis of accounting.
Pass-thru Entities: Pass through entity identfying nmbers are presented on the schedule where available
Title: 10% Deminimis Indirect Cost Rate
Accounting Policies: Uniform Guidance Audits of States and Local Governments and Non Profit Organizations
De Minimis Rate Used: Y
Rate Explanation: 0.1
The School has elected to use the 10% de minimis indirect cost rate as permitted by 2 CFR Section 200.414.
Title: NON Cash transactions
Accounting Policies: Uniform Guidance Audits of States and Local Governments and Non Profit Organizations
De Minimis Rate Used: Y
Rate Explanation: 0.1
No noncash transactions.
Title: Subrecipient Relationships
Accounting Policies: Uniform Guidance Audits of States and Local Governments and Non Profit Organizations
De Minimis Rate Used: Y
Rate Explanation: 0.1
The School did not remit any funds to subrecipients.