Notes to SEFA
Title: Note 1: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% deminimus cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of The Learning Tree, Inc. under the programs of the federal government for the year
ended December 31, 2023. 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).
Because the Schedule presents only a selected portion of the operations of The Learning Tree Inc., it
is not intended to and does not present the financial position, changes in net assets, or cash flows of
The Learning Tree, Inc.
Title: Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% deminimus cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance wherein
certain types of expenditures are not allowable or are limited as to reimbursement.
The Organization has elected not to use the 10% deminimus cost rate allowed under the Uniform
Guidance.
The Organization did not expend federal awards in the form of loans or loan guarantees.
The Organization did not receive any noncash assistance or federally funded insurance during the
year ended December 31, 2023.
Title: Note 3: SUB-RECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% deminimus cost rate allowed under the Uniform Guidance.
During the year ended December 31. 2023, the Organization has no sub-recipients.
Title: Note 4: FEDERAL PASS-THROUGH FUNDS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% deminimus cost rate allowed under the Uniform Guidance.
The Organization is also the sub-recipient of federal funds that have been subjected to the testing
and are reported as expenditures and listed as federal pass-through funds. Federal awards other than
those indicated as pass-through are considered to be direct.