Notes to SEFA
Title: Basis of Presentation
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant
activity of Community Education Network Dba It Takes a Village Family of Schools Dba Village
Leadership Academy- (CEN) under programs of the federal government for the year ended June 30, 202~-.
The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of
Federal /?egulations Part 200, Unijbrm Administrative Requirements, Cost Principle;; and Audit llequirements
for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the
operations of the Community Education Network Dba It Takes a Village Family of Schools Dba Village
Leadership Academy - (CEN), it is not intended to and docs not present the financial position, changes in
net assets or cash now of Community Education Network Dba Village Leadership Academy and It Takes a
Village. These amounts arc included in the statement of activities in the basic financial statements, which
also includes nonfoderal government funding that is not reflected in the accompanying Schedule.
Title: Summary of Significant Findings
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: N/A
Expenditures reported on the Schedule are reported on the accrual basis of accounting, such expenditures
arc recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as reimbursement. Pass-through entity identilying numbers
arc presented where available.
Title: Other Federal Assistance
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: N/A
During the year ending June 30, 2024, the organization did not receive any federal assistance such as non•
cash assistance, insurance, loans, or loan guarantees.
Title: Amount Provided to Sub Recipients
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: N/A
Pursuant to Uniform Guidance, there was no amount provided to sub -recipients from federal programs.
Title: Indirect Cost Rate
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: N/A
The Community Education Network Dba It Takes a Village Family of Schools Dba Village Leadership
Academy - (CEN) has elected to use the 10 percent de minimis indirect cost allowed under the Uniform
Guidance to the extent allowed by each grant. The organization docs not have an approved indirect cost
rate.
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