Audit 348086

Title: Reconciliation of Federal Awards Accounting Policies: The Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of Baden Academy Charter School (School) and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the School, it is not intended to and does not present the financial position, changes in fund balance or cash flows of the School. The Schedule of Expenditures of Federal Awards is based upon information provided by the various funding sources to the District and other information available at the time this Schedule was prepared. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The following reconciles the federal awards shown on the Schedule of Expenditures of Federal Awards to the federal revenue reported in the financial statements for the fiscal year ended June 30, 2024: Governmental Funds $1,240,989, Proprietary Funds $348,153, IDEA Funding passed through the Beaver Valley Intermediate Unit $108,854, ACCESS Funds ($211) for a total Federal Revenue reported in the Schedule of Expenditures of Federal Awards of $1,697,785.

Title: Source Code Accounting Policies: The Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of Baden Academy Charter School (School) and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the School, it is not intended to and does not present the financial position, changes in fund balance or cash flows of the School. The Schedule of Expenditures of Federal Awards is based upon information provided by the various funding sources to the District and other information available at the time this Schedule was prepared. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The Source Code (I) indicates funds received indirectly.