Notes to SEFA
Title: Note 3. Subrecipients.
Accounting Policies: Note 1. Significant accounting policies used in preparing the schedule of expenditures of federal awards. The above schedule of
expenditures of federal awards includes the federal grant activity of Partnership Academy and is presented on the modified accrual
basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
(Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Note 2. Indirect Costs. Partnership Academy has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Partnership Academy did not pass any federal awards through to subrecipients.