Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on in this schedule are reported on the accrual basis of accounting, and 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. ACCLAIM Charter School has
elected not to use the ten (10%) percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards includes the federal grant activity of
ACCLAIM Charter School under programs of the federal government for the year ended June 30, 2024
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 Part 200, Uniform
Administrative Requirements, Cost Principals, and Audit Requirements for Federal Audits (Uniform
Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in,
or used in the preparation of, the financial statements.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on in this schedule are reported on the accrual basis of accounting, and 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. ACCLAIM Charter School has
elected not to use the ten (10%) percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
Expenditures reported on in this schedule are reported on the accrual basis of accounting, and 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. ACCLAIM Charter School has
elected not to use the ten (10%) percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
Title: NOTE 3 – CLASSIFICATION OF FEDERAL AWARDS
Accounting Policies: Expenditures reported on in this schedule are reported on the accrual basis of accounting, and 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. ACCLAIM Charter School has
elected not to use the ten (10%) percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
In accordance with the Uniform Guidance, because total federal expenditures were at least $750,000,
but less than $25,000,000, Type A programs are all programs with expenditures equal to or greater
than $750,000. Major programs were determined using a risk-based approach.
Title: NOTE 4 – CATALOG OF FEDERAL ASSISTANCE LISTING (FAL) NUMBERS
Accounting Policies: Expenditures reported on in this schedule are reported on the accrual basis of accounting, and 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. ACCLAIM Charter School has
elected not to use the ten (10%) percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The program titles and FAL numbers were obtained from the federal or pass-through grantor or 2024
Federal Assistance Listing. When no FAL numbers had been assigned to a program, the two-digit
federal agency identifier and the federal contract number were used. When there was no federal
contract number, the two-digit federal agency identifier and the word “unknown” were used.
Title: NOTE 5 – SUBRECIPIENTS
Accounting Policies: Expenditures reported on in this schedule are reported on the accrual basis of accounting, and 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. ACCLAIM Charter School has
elected not to use the ten (10%) percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
ACCLAIM Charter School did not pass any funds on to subrecipients during the year ended June 30, 2024