Audit 350105

Title: Basis of Presentation Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Organization has elected to not use the 10 percent de minimis indirect cost rates allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (schedule) includes the federal grant activity of Pittsburgh Area Community Schools, Inc. (Organization) and is presented on the accrual basis of accounting, modified for fixed asset purchases. 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 Principles, and Audit Requirements for Federal Awards (Uniform Guidance). The Corporation has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.