Notes to SEFA
Title: General
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the School’s financial statements for the year ended June 30, 2024.
De Minimis Rate Used: N
Rate Explanation: The School has elected to use the 10% de minimus indirect cost rate as allowed.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards of Advocates for Arts-Based Education Corporation d/b/a The Willow School (the “School”). The School’s reporting entity is defined in Note 1 to the financial statements for the year ended June 30, 2024. All federal awards received directly from federal agencies are included on the schedule, as well as federal awards passed-through other government agencies.
Title: Basis of Accounting
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the School’s financial statements for the year ended June 30, 2024.
De Minimis Rate Used: N
Rate Explanation: The School has elected to use the 10% de minimus indirect cost rate as allowed.
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the School’s financial statements for the year ended June 30, 2024.
Title: Indirect Cost Rate
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the School’s financial statements for the year ended June 30, 2024.
De Minimis Rate Used: N
Rate Explanation: The School has elected to use the 10% de minimus indirect cost rate as allowed.
The School has elected to use the 10% de minimus indirect cost rate as allowed under Uniform Guidance.