Title: BASIS OF PRESENTATION
Accounting Policies: Expense Recognition
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
Payments to Subrecipients
There were no payments to subrecipients for the fiscal year ended June 30, 2024.
Non-Cash Assistance
Nonmonetary assistance in the amount of $86,246, $884,985, $33,809, $36,269, and $90,628 is reported in the schedule as AL No. 10.555, 84.010, 84.367A, 84.424A, and 84.425U, respectively, at the fair market value of the commodities received and disbursed.
De Minimis Rate Used: N
Rate Explanation: IDEA Public Schools Louisiana, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of IDEA Public Schools Louisiana, Inc. under programs of the federal government for the year ended June 30, 2024. The information in the 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). Because the schedule presents only a selected portion of the operations of IDEA Public Schools Louisiana, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of IDEA Public Schools Louisiana, Inc.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expense Recognition
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
Payments to Subrecipients
There were no payments to subrecipients for the fiscal year ended June 30, 2024.
Non-Cash Assistance
Nonmonetary assistance in the amount of $86,246, $884,985, $33,809, $36,269, and $90,628 is reported in the schedule as AL No. 10.555, 84.010, 84.367A, 84.424A, and 84.425U, respectively, at the fair market value of the commodities received and disbursed.
De Minimis Rate Used: N
Rate Explanation: IDEA Public Schools Louisiana, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expense Recognition
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
Payments to Subrecipients
There were no payments to subrecipients for the fiscal year ended June 30, 2024.
Non-Cash Assistance
Nonmonetary assistance in the amount of $86,246, $884,985, $33,809, $36,269, and $90,628 is reported in the schedule as AL No. 10.555, 84.010, 84.367A, 84.424A, and 84.425U, respectively, at the fair market value of the commodities received and disbursed.
Title: INDIRECT COST RATE
Accounting Policies: Expense Recognition
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
Payments to Subrecipients
There were no payments to subrecipients for the fiscal year ended June 30, 2024.
Non-Cash Assistance
Nonmonetary assistance in the amount of $86,246, $884,985, $33,809, $36,269, and $90,628 is reported in the schedule as AL No. 10.555, 84.010, 84.367A, 84.424A, and 84.425U, respectively, at the fair market value of the commodities received and disbursed.
De Minimis Rate Used: N
Rate Explanation: IDEA Public Schools Louisiana, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
IDEA Public Schools Louisiana, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.