Notes to SEFA
Accounting Policies: NOTE A BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal awardactivity of TRECA Digital Academy (TDA) under programs of the federal government for the year endedJune 30, 2022. The information on this Schedule is prepared in accordance with the requirements of Title2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of TDA, it is not intended to and does not present the financial position,changes in net position, or cash flows of TDA.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 RATETDA has elected not to use the 10-percent de minimis indirect cost rate as allowed under the UniformGuidance.NOTE D CONSORTIUMTDA participates in a consortium for certain federal awards received from the Ohio Department of Educationas required.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.