Notes to SEFA
Accounting Policies: NOTE A – BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award
activity of TRECA Digital Academy (TDA) under programs of the federal government for the year ended
June 30, 2024. 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 TDA, it is not intended to and does not present the financial position,
changes in net position, or cash flows of TDA.
NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures
are recognized following the cost principles contained in Uniform Guidance wherein certain types of
expenditures may or may not be allowable or may be limited as to reimbursement.
NOTE C – INDIRECT COST RATE
TDA has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
NOTE D – CONSORTIUM
TDA participates in a consortium for certain federal awards received from the Ohio Department of Education
and Workforce as required.
De Minimis Rate Used: N
Rate Explanation: n/a