Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Mariana Bracetti Academy Charter School (the “School”) 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 (“Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the School, it is not intended to and does not present the balance sheet, revenues, expenditures, or changes in fund balances of governmental funds. The financial activity for the aforementioned awards is reported in the School’s Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds.
1. 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 are not allowable or are limited as to reimbursement. 2. The School has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
At June 30, 2025 At June 30, 2024 Federal subsidies receivable $ 517,507 $ 449,821 Included in deferred revenue -0- (400,659) Included in due from local governments 394,447 422,946 Total Accrued Revenue $ 911,954 $ 472,108
In accordance with 2 CFR Section 200.518 of the Uniform Guidance, certain programs have been clustered in determining major programs. The following represents the clustered programs: Assistance Listing Name of Cluster/Program Number Child Nutrition Cluster School Breakfast Program 10.553 National School Lunch Program 10.555