Notes to SEFA
Title: Note 3: RECONCILIATION OF FEDERAL GRANT REVENUE TO EXPENDITURES OF FEDERAL AWARDS
Accounting Policies: Basis of Presentation – This schedule includes the activity of Pelican Educational Foundation, Inc. and Affiliate (the Foundation) (a nonprofit organization) (d/b/a Kenilworth Science and Technology Charter School) 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10% de minimis indirect rate allowed under the Uniform Guidance.
Federal awards revenues reported in the Foundation’s combined financial statements reconcile to federal award expenditures as follows:
Title: Note 4: LOAN
Accounting Policies: Basis of Presentation – This schedule includes the activity of Pelican Educational Foundation, Inc. and Affiliate (the Foundation) (a nonprofit organization) (d/b/a Kenilworth Science and Technology Charter School) 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10% de minimis indirect rate allowed under the Uniform Guidance.
The Foundation did not expend federal awards related to loans or loan guarantees during the year.
Title: Note 5: FEDERALLY FUNDED INSURANCE
Accounting Policies: Basis of Presentation – This schedule includes the activity of Pelican Educational Foundation, Inc. and Affiliate (the Foundation) (a nonprofit organization) (d/b/a Kenilworth Science and Technology Charter School) 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10% de minimis indirect rate allowed under the Uniform Guidance.
The Foundation has no federally funded insurance.
Title: Note 6: NONCASH ASSISTANCE
Accounting Policies: Basis of Presentation – This schedule includes the activity of Pelican Educational Foundation, Inc. and Affiliate (the Foundation) (a nonprofit organization) (d/b/a Kenilworth Science and Technology Charter School) 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10% de minimis indirect rate allowed under the Uniform Guidance.
The Foundation received no noncash assistance.