Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant
activity of Laupahoehoe Community Public Charter School (School) and is presented on the 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance). Therefore, certain amounts presented in this
Schedule may differ from amounts presented in, or used in the preparation of, the financial statements of the
Schoo
De Minimis Rate Used: N
Rate Explanation: The School has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.