Audit 34673

Accounting Policies: NOTE A BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal awardactivity of Noble Academy Columbus, Inc. (the Academy) under programs of the federal government forthe year ended June 30, 2022. The information on this Schedule is prepared in accordance with therequirements 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 Schedulepresents only a selected portion of the operations of the Academy, it is not intended to and does not presentthe financial position, changes in net position, or cash flows of the Academy.NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in Uniform Guidance whereincertain types of expenditures may or may not be allowable or may be limited as to reimbursement.NOTE C INDIRECT COST RATEThe Academy has elected not to use the 10-percent de minimis indirect cost rate as allowed under theUniform Guidance.NOTE D - CHILD NUTRITION CLUSTERThe Academy commingles cash receipts from the U.S. Department of Agriculture with similar State grants.When reporting expenditures on this Schedule, the Academy assumes it expends federal monies first.NOTE E - TRANSFERSThe following amounts were transferred to the Schoolwide Building Program Fund based on ODEadministrative action and transferability guidelines during fiscal year 2022:SCHOOLWIDE POOLFund ALN Transfer In Transfer OutSchoolwide Building Program Fund N/A $347,111Title-I Non-competitive, Supplemental SI N/A 0Title I Grants to Local Education Agencies 84.010 234,759Special Education - Grants to States 84.027 57,517Special Education - Preschool Grants 84.173 630Student Support and Academic Enrichment 84.424 20,440English Language Acquisition State Grants 84.365 15,817Improving Teacher Quality StateGrants 84.367 17,948Total Schoolwide Pool 347,111 347,111 De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.