Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards presents the activityof all federal awards of Academy of the Sacred Heart of New Orleans (the“Academy”). The Academy’s reporting entity is defined in Note 1 to the financialstatements for the year ended June 30, 2025. All federal awards received directly from federal agencies are included on the schedule, as well as federal awards through other government agencies.
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis financial statements for the year ended June 30, 2025. The Academy has not elected to use the 10% de minimus indirect cost rate as allowed under Uniform Guidance.