Notes to SEFA
Title: NOTE 3 - CHILD NURTRITION CLUSTER
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Horizon Science Academy of Toledo under programs of the federal government for the fiscal year ended June 30, 2024 and is prepared in accordance with the accrual basis of accounting. The information on this Schedule is prepared 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 the Horizon Science Academy of Toledo, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Horizon Science Academy of Toledo. Such expenditures are recognized following cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be limited to as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CFR Section 200.414 of the Uniform Guidance allows a non-federal entity that has never received a negotiated indirect cost rate to charge a de minimis rate of 10% of modified total direct costs to indirect costs. The Horizon Science Academy of Toledo has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Horizon Science Academy of Toledo commingles cash receipts from the U.S. Department of Agriculture with similar State grants. When reporting expenditures on this Schedule, the Horizon Science Academy of Toledo assumes it expends federal monies first.
Title: NOTE 4 - SCHOOLWIDE POOL TRANSFERS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Horizon Science Academy of Toledo under programs of the federal government for the fiscal year ended June 30, 2024 and is prepared in accordance with the accrual basis of accounting. The information on this Schedule is prepared 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 the Horizon Science Academy of Toledo, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Horizon Science Academy of Toledo. Such expenditures are recognized following cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be limited to as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CFR Section 200.414 of the Uniform Guidance allows a non-federal entity that has never received a negotiated indirect cost rate to charge a de minimis rate of 10% of modified total direct costs to indirect costs. The Horizon Science Academy of Toledo has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The following amounts were transferred to the Schoolwide Building Program Fund based on Ohio Department of Education and Workforce administrative action and transferability guidelines during fiscal year 2024: Please see the Notes to the Schedule of Expenditures of Federal Awards for table/chart.
Title: NOTE 5 - PASS THROUGH GRANTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Horizon Science Academy of Toledo under programs of the federal government for the fiscal year ended June 30, 2024 and is prepared in accordance with the accrual basis of accounting. The information on this Schedule is prepared 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 the Horizon Science Academy of Toledo, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Horizon Science Academy of Toledo. Such expenditures are recognized following cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be limited to as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CFR Section 200.414 of the Uniform Guidance allows a non-federal entity that has never received a negotiated indirect cost rate to charge a de minimis rate of 10% of modified total direct costs to indirect costs. The Horizon Science Academy of Toledo has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Horizon Science Academy of Toledo was awarded federal program allocations to be administered on their behalf by Horizon Science Academy of Lorain. For fiscal year 2024, the Horizon Science Academy of Toledo's allocations were as follows: English Language Acquisition State Grants (ALN 84.365A) $3,342.