Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (“the Schedule”) includes the federal grant activity of Michigan Great Lakes Virtual Academy under programs of the federal government 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of Michigan Great Lakes Virtual Academy, it is not intended to and does not present the financial position and changes in net position of Michigan Great Lakes Virtual Academy.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass through entity identifying numbers are presented where available. Michigan Great Lakes Virtual Academy has elected to not use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Michigan Great Lakes Virtual Academy does not pass-through federal awards to other governments or organizations.
See the Notes to the SEFA table instead
See the Notes to the SEFA table instead