Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Academy did not use an indirect cost rate when calculating federal expenditures.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Higher Ground Academy (the Academy) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a select portion of the operations of Higher Ground Academy, it is not intended to and does not present the financial position or changes in financial position of Higher Ground Academy.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Academy did not use an indirect cost rate when calculating federal expenditures.
The Academy did not pass any federal funds to subrecipients during the year ended June 30, 2024.
Title: Pass-Through Identifier
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Academy did not use an indirect cost rate when calculating federal expenditures.
The Academy's pass-through identifying numbers assigned by each pass-through entity above are unknown.