Notes to SEFA
Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance
for all awards, wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in
the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Academia Cesar Chavez Charter School does not charge indirect costs to its federal programs,
however if they were to charge indirect costs, they would use the indirect cost rate provided to them
by the Minnesota Department of Education (the pass-through entity) rather than use the 10% de
minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of Academia Cesar Chavez Charter School under programs of the federal government
for the year ended June 30, 2024. 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 for Federal Awards (Uniform Guidance).
Because the Schedule presents only a selected portion of the operations of Academia Cesar Chavez
Charter School, it is not intended to and does not present the financial position, changes in position,
or cash flows of Academia Cesar Chavez Charter School.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance
for all awards, wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in
the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Academia Cesar Chavez Charter School does not charge indirect costs to its federal programs,
however if they were to charge indirect costs, they would use the indirect cost rate provided to them
by the Minnesota Department of Education (the pass-through entity) rather than use the 10% de
minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance
for all awards, wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in
the normal course of business to amounts reported as expenditures in prior years.
Title: NOTE 3 – INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance
for all awards, wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in
the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Academia Cesar Chavez Charter School does not charge indirect costs to its federal programs,
however if they were to charge indirect costs, they would use the indirect cost rate provided to them
by the Minnesota Department of Education (the pass-through entity) rather than use the 10% de
minimis indirect cost rate as allowed under the Uniform Guidance.
Academia Cesar Chavez Charter School does not charge indirect costs to its federal programs,
however if they were to charge indirect costs, they would use the indirect cost rate provided to them
by the Minnesota Department of Education (the pass-through entity) rather than use the 10% de
minimis indirect cost rate as allowed under the Uniform Guidance.