Notes to SEFA
Title: NOTE 2 - FEDERAL ASSISTANCE LISTING NUMBER
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant transactions of ASU Preparatory Academy (ASU Prep) for the year ended June 30, 2025. 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: ASU Prep did not elect to use the 10 percent de minimis indirect cost rate as covered in 2 CFR
§200.414.
The program titles and Federal Assistance Listing numbers were obtained from the federal or passthrough grantors or the 2025 Federal Assistance Listings. When no Federal Assistance Listings
numbers had been assigned to a program, the two digit federal agency identifier and the federal contract number were used. When there was no federal contract number, the two digit federal agency identifier and the word "unknown" were used.
Title: NOTE 4 - SUBRECIPIENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant transactions of ASU Preparatory Academy (ASU Prep) for the year ended June 30, 2025. 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: ASU Prep did not elect to use the 10 percent de minimis indirect cost rate as covered in 2 CFR
§200.414.
ASU Prep did not pass any funds onto subrecipients during the year ended June 30, 2025.