Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of Federal and State awards (SEFSA) includes the Federal and Stategrant activity of Uwharrie Green School, Inc. under the programs of the Federal government and the State of NorthCarolina for the year ended June 30, 2022. The information in this SEFSA is presented in accordance with therequirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards and the State Single Audit Implementation Act. Becausethe Schedule presents only a selected portion of the operations of the School, it is not intended to and does notpresent the financial position, changes in net position, or cash flows of the School. Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expendituresare recognized following the cost principles contained in Uniform Guidance, wherein certain types of expendituresare not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.