Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal and state awards includes the federal and state grant activity of Darrell L. Hines Academy, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and the State Single Audit Guidelines. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the basic financial statements. The Wisconsin Department of Public Instruction requires the presentation of cash payments as well as accrual adjustments to be reported in the Schedule of Expenditures of Federal and State Awards.
De Minimis Rate Used: Y
Rate Explanation: The Organization has adopted the De Minimis Cost Rate for any overhead costs that are not direct costs of the federal or state awards.