Audit 31592

Accounting Policies: NOTE A BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal awardactivity of Horizon Science Academy Columbus Middle School (the Academy) under programs of the federalgovernment for the year ended June 30, 2022. The information on this Schedule is prepared in accordancewith the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Becausethe Schedule presents only a selected portion of the operations of the Academy, it is not intended to anddoes not present the financial position, changes in net position, or cash flows of the Academy.NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the cash basis of accounting. Such expendituresare recognized following the cost principles contained in Uniform Guidance wherein certain types ofexpenditures may or may not be allowable or may be limited as to reimbursement.NOTE C INDIRECT COST RATEThe Academy has elected not to use the 10-percent de minimis indirect cost rate as allowed under theUniform Guidance.NOTE D - CHILD NUTRITION CLUSTERThe Academy commingles cash receipts from the U.S. Department of Agriculture with similar State grants.When reporting expenditures on this Schedule, the Academy assumes it expends federal monies first.NOTE E - TRANSFERSThe following amounts were transferred to the Schoolwide Building Program Fund based on ODEadministrative action and transferability guidelines during fiscal year 2022:SCHOOLWIDE POOLFund CFDA Transfer In Transfer OutSchoolwide Building Program Fund N/A $586,030Title-I Non-competitive, Supplemental SI N/A 0Title I Grants to Local Education Agencies 84.010 399,193Special Education - Grants to States 84.027 105,805Special Education - Preschool Grants 84.173 0Student Support and Academic Enrichment 84.424 33,250English Language Acquisition State Grants 84.365 17,192Improving Teacher Quality StateGrants 84.367 30,589Total Schoolwide Pool 586,030 586,030 De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.