Title: NOTE A – BASIS OF PRESENTATION AND ACCOUNTING
Accounting Policies: The Schedule includes the federal award activity of the Horizon Science Academy Dayton (Academy) under programs of the federal government for the fiscal year ended June 30, 2024 and is prepared in accordance with the accrual basis of accounting. The information on this schedule is prepared in accordance with the requirements of Title 2 US 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.
De Minimis Rate Used: N
Rate Explanation: The Academy has not elected to use the 10% de minimis indirect cost rate.
The Schedule includes the federal award activity of the Horizon Science Academy Dayton (Academy) under programs of the federal government for the fiscal year ended June 30, 2024 and is prepared in accordance with the accrual basis of accounting. The information on this schedule is prepared in accordance with the requirements of Title 2 US 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.
Title: NOTE B – INDIRECT COST RATE
Accounting Policies: The Schedule includes the federal award activity of the Horizon Science Academy Dayton (Academy) under programs of the federal government for the fiscal year ended June 30, 2024 and is prepared in accordance with the accrual basis of accounting. The information on this schedule is prepared in accordance with the requirements of Title 2 US 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.
De Minimis Rate Used: N
Rate Explanation: The Academy has not elected to use the 10% de minimis indirect cost rate.
CFR 200.414 allows a non-federal entity that has never received a negotiated indirect cost rate to charge a de minimis rate of 10% of modified total direct costs to indirect costs. The Academy has not elected to use the 10% de minimis indirect cost rate.
Title: NOTE C – PASS-THROUGH ENTITY NUMBERS
Accounting Policies: The Schedule includes the federal award activity of the Horizon Science Academy Dayton (Academy) under programs of the federal government for the fiscal year ended June 30, 2024 and is prepared in accordance with the accrual basis of accounting. The information on this schedule is prepared in accordance with the requirements of Title 2 US 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.
De Minimis Rate Used: N
Rate Explanation: The Academy has not elected to use the 10% de minimis indirect cost rate.
OAKS did not assign pass-through entity numbers for fiscal year 2024.
Title: NOTE D – CHILD NUTRITION CLUSTER
Accounting Policies: The Schedule includes the federal award activity of the Horizon Science Academy Dayton (Academy) under programs of the federal government for the fiscal year ended June 30, 2024 and is prepared in accordance with the accrual basis of accounting. The information on this schedule is prepared in accordance with the requirements of Title 2 US 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.
De Minimis Rate Used: N
Rate Explanation: The Academy has not elected to use the 10% de minimis indirect cost rate.
Commingled with state and local revenue from sales of breakfasts and lunches; assumed expenditures were made on a first-in, first-out basis.
Title: NOTE E – TRANSFERS TO SCHOOL WIDE BUILDING PROGRAM
Accounting Policies: The Schedule includes the federal award activity of the Horizon Science Academy Dayton (Academy) under programs of the federal government for the fiscal year ended June 30, 2024 and is prepared in accordance with the accrual basis of accounting. The information on this schedule is prepared in accordance with the requirements of Title 2 US 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.
De Minimis Rate Used: N
Rate Explanation: The Academy has not elected to use the 10% de minimis indirect cost rate.
The following amounts were transferred to the Schoolwide Building Program Fund based on ODE&W administrative action and transferability guidelines during fiscal year 2024: (See the Notes to the SEFA for table)