Notes to SEFA
The Schedule of Expenditures of Federal Awards is presented in accordance with the modified accrual basis of accounting.
Management has utilized the Cash Management System Grant Auditor Report in preparing the Schedule of Expenditures of Federal Awards.
Revenues from federal sources per the government funds financial statements agree with the expenditures per the Schedule of Expenditures of Federal Awards.
The Academy receives certain Federal grants as subawards from non-federal entities. Pass-through entities, where applicable, have been identified in the Schedule with an abbreviation as follows:
The Academy did not elect to use the 10% de minimis cost rate as covered in Uniform Guidance section 2 CFR 200.414 indirect costs.