Title: Basis of Presentation
Accounting Policies: Expenditures reported on this schedule are reported on the modified accrual basis of accounting. Such expenditures are
recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit-
Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the Charter School did not elect to use the 10 percent de Minimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of
PACT Charter School, PSD #4008, (the Charter School), Minneapolis, Minnesota. The Charter School's reporting entity is
defined in Note 1A to the Charter School's financial statements. 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). All federal awards
received directly from Federal agencies as well as Federal awards passed through other government agencies are
included on the schedule.
Title: Pass-through Entity Identifying Numbers
Accounting Policies: Expenditures reported on this schedule are reported on the modified accrual basis of accounting. Such expenditures are
recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit-
Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the Charter School did not elect to use the 10 percent de Minimis indirect cost rate.
Pass-through entity identifying numbers are presented where available.
Title: Sub recipients
Accounting Policies: Expenditures reported on this schedule are reported on the modified accrual basis of accounting. Such expenditures are
recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit-
Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the Charter School did not elect to use the 10 percent de Minimis indirect cost rate.
No federal expenditures presented in this schedule were provided to sub recipients.