Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Basis of Presentation:
The accompanying schedule of expenditures of federal awards includes the federal grant activity of New Schools for New Orleans, Inc. (NSNO), 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 Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate:
NSNO uses an 8% restricted indirect cost rate as allowed by the Department of Education.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of New Schools for New Orleans, Inc. (NSNO), 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 Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Amounts Due from Grants:
The Teacher and School Leader Incentive Program (TSL) and Supporting Effective Educator Development (SEED) grants are managed as reimbursement grants in which federal funds are drawn down as subrecipients and vendor reimbursements are processed. Accordingly, grant revenues are recognized as earned when grant expenditures are incurred.
Grant activity for the year ended September 30, 2024 was as follows:
Title: Amounts Due from Grants
Accounting Policies: Basis of Presentation:
The accompanying schedule of expenditures of federal awards includes the federal grant activity of New Schools for New Orleans, Inc. (NSNO), 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 Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate:
NSNO uses an 8% restricted indirect cost rate as allowed by the Department of Education.
The Teacher and School Leader Incentive Program (TSL) and Supporting Effective Educator Development (SEED) grants are managed as reimbursement grants in which federal funds are drawn down as subrecipients and vendor reimbursements are processed. Accordingly, grant revenues are recognized as earned when grant expenditures are incurred.
Grant activity for the year ended September 30, 2024 was as follows:
Title: Indirect Cost Rate
Accounting Policies: Basis of Presentation:
The accompanying schedule of expenditures of federal awards includes the federal grant activity of New Schools for New Orleans, Inc. (NSNO), 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 Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate:
NSNO uses an 8% restricted indirect cost rate as allowed by the Department of Education.
NSNO uses an 8% restricted indirect cost rate as allowed by the Department of Education.