Notes to SEFA
Accounting Policies: NOTE A – BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award
activity of Horizon Science Academy Cincinnati (the Academy) under programs of the federal government
for the year ended June 30, 2023. The information on this Schedule is prepared 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). Because the Schedule
presents only a selected portion of the operations of the Academy, it is not intended to and does not present
the financial position, changes in net position, or cash flows of the Academy.
NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures
are recognized following the cost principles contained in Uniform Guidance wherein certain types of
expenditures may or may not be allowable or may be limited as to reimbursement.
NOTE C – INDIRECT COST RATE
The Academy has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
NOTE D - CHILD NUTRITION CLUSTER
The 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 - TRANSFERS
The following amounts were transferred to the Schoolwide Building Program Fund based on ODE
administrative action and transferability guidelines during fiscal year 2023:
SCHOOLWIDE POOL
Fund ALN Transfer In Transfer Out
Schoolwide Building Program Fund N/A $281,041
Title-I Non-competitive, Supplemental SI 84.010 177,534
Title I Grants to Local Education Agencies 84.010 48,125
Special Education - Grants to States 84.027 34,111
Special Education - Preschool Grants 84.173 79
Student Support and Academic Enrichment 84.424 14,671
English Language Acquisition State Grants 84.365 166
Improving Teacher Quality State Grants 84.367 6,355
Total Schoolwide Pool 281,041 281,041
De Minimis Rate Used: N
Rate Explanation: N/A