Notes to SEFA
Accounting Policies: a. GeneralThe accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards of Advocates for Arts-Based Education Corporation d/b/a Lusher Charter School (the School). The Schools reporting entity is defined in Note 1 to the financial statements for the year ended June 30, 2022. All federal awards received directly from federal agencies are included on the schedule, as well as federal awards passed-through other government agencies.b. Basis of AccountingThe accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Schools financial statements for the year ended June 30, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.