Notes to SEFA
Accounting Policies: NOTE A – BASIS OF PRESENTATION
The schedule includes the federal award activity of the Horizon Science Academy Youngstown 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 US 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 Youngstown, it is not intended to and does not present the financial position, changes
in net position, or cash flows of the Horizon Science Academy Youngstown.
NOTE B – INDIRECT COST RATE
CFR 200.414 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 Academy has not elected to use the 10% de minimis
indirect cost rate.
NOTE C – PASS-THROUGH ENTITY NUMBERS
OAKS did not assign pass-through numbers for fiscal year 2024.
NOTE D – CHILD NUTRITION CLUSTER
Commingled with state and local revenue from sales of breakfasts and lunches; assumed expenses were made on a
first-in, first-out basis.
NOTE E – TRANSFERS TO SCHOOL WIDE BUILDING PROGRAM
The following amounts were transferred to the Schoolwide Building Program Fund based on ODE administrative
action and transferability guidelines during fiscal year 2024:
SCHOOLWIDE POOL
Fund ALN Transfer In Transfer Out
Schoolwide Building Program Fund N/A $ 942,630 $ -
Title I Grants to Local Education Agencies 84.010A - 653,156
Title I Non-competitive, Supplemental SI 84.010A - 43,106
Title I Expanding Opportunities for Each
Child Non-Competitive Grant 84.010A - 18,939
Special Education - Grants to States 84.027A - 121,643
Special Education - Preschool Grants 84.173A - 4,993
Supporting Effective Instruction 84.367A - 57,458
Student Support and Academic Enrichment 84.424A - 43,335
Total Schoolwide Pool $ 942,630 $ 942,630
NOTE F – PASS THROUGH FUNDS
The Horizon Science Academy Youngstown was awarded federal program allocations to be administered on their
behalf by the Horizon Science Academy Lorain. For 2024, the Horizon Science Academy Youngstown received a
$4,827 allocation for the English Language Acquisition State Grant (ALN 84.365A) that was administered by the
Horizon Science Academy Lorain.
De Minimis Rate Used: N
Rate Explanation: N/A