Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Youth
Connection Charter School (Organization) for the year ended June 30, 2023. The information in this schedule is
presented in accordance with the requirements of the Uniform Guidance. Because the schedule presents only a
selected portion of the operations of the Organization, it is not intended to and does not present the financial
position, changes in net assets, or cash flows of the Organization.
Title: SUB-RECIPIENTS
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
The Organization provided no federal awards to sub-recipients during the year ended June 30, 2023.
Title: NONMONETARY ASSISTANCE
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
The Organization neither received nor disbursed federal awards in the form of nonmonetary assistance for the
year ended June 30, 2023.
Title: INSURANCE AND LOANS OR LOAN GUARANTEES
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
During the year ended June 30, 2023, the Organization received no loans, loan guarantees or other federal
assistance for the purpose of administering federal programs.