Notes to SEFA
The accompanying schedule of expenditures of federal awards and state financial assistance is presented on the modified 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
The School has elected to not use the 10% de minimis indirect cost rate for its federal programs for the year ended June 30, 2025 The indirect cost rates used on the School's federal programs are determined by the relevant federal agency.