Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the Federal grant activity of Palm Beach School for Autism (the “School”), a charter school under Palm Beach School for Autism, Inc. 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 (“CFR”) Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements of Federal Awards, (“Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of Palm Beach School for Autism, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Palm Beach School for Autism, Inc .
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement, as applicable.
The School did not elect to use the 15% de minimis indirect cost rate as allowed under the Uniform Guidance.