Notes to SEFA
The accompanying Schedule of ExpendituresofFederalAwards(theSchedule)includesthefederalawardactivityofSunBridgeSchools,LucasCounty,Ohio(theSchool)underprogramsofthefederalgovernmentfortheyearendedJune30,2025.TheinformationonthisScheduleispreparedinaccordancewiththerequirementsofTitle2U.S.CodeofFederalRegulationsPart200,UniformAdministrativeRequirements,CostPrinciples,andAuditRequirementsforFederalAwards(UniformGuidance).BecausetheSchedulepresentsonlyaselectedportionoftheoperationsoftheSchool, it is not intended to and does not present the financial position, changes in net position, or cash flows of the School.
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, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. The School has elected not to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
TheSchoolgenerallymustspendFederalassistancewithin15monthsofreceipt.However,withOhioDepartmentofEducationandWorkforce(DEW)approval,anSchoolcantransfer(carryover)unspentFederalassistancetothesucceedingyear,thusallowingtheSchoolatotalof27monthsto spend the assistance. During fiscal year 2025, the DEW authorized the following transfers:
TheSchoolcomminglescashreceiptsfromtheU.S.DepartmentofAgriculturewithsimilarStateGrants.WhenreportingexpendituresonthisSchedule, the School assumes it expends federal monies first.
The School transferred the following funds between programs in fiscal year 2025;