Notes to SEFA
Accounting Policies: Charter Schools 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, some amounts presented in this schedule may differ from amounts presented in, or used
in the preparation of, the basic consolidated financial statements.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following, as applicable, the cost principles contained in Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Rochester Prep Charter Schools has elected not to use the 10 percent de minimis indirect cost rate allowed
under the Uniform Guidance.