Notes to SEFA
Accounting Policies: NOTE A - GENERALThe accompanying schedule of expenditures of federal awards presents the activity of allfederal financial assistance programs of Freire Charter School (the School).The information in this schedule is presented in accordance with the requirements ofTitle 2 U.S. Code of Federal Regulations part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (theUniform Guidance). Therefore, some amounts presented in this schedule may differfrom amounts present in, or used in the preparation of, the basic financial statements.NOTE B - BASIS OF ACCOUNTINGThe accompanying schedule of expenditures of federal awards is presented using theaccrual basis of accounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance wherein certain types of expenditures are not allowableor are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.