Notes to SEFA
Title: NOTE A | BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Atlas Public Schools has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform guidance
The accompanying schedule of expenditures of federal awards includes the federal award activity of Atlas Public Schools under programs of the federal government for the year ended June 30, 2023. 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 Atlas Public Schools and is reported on the modified cash basis of accounting, it is not intended to and does not present the net assets, changes of net assets or cash flows of Atlas Public Schools.
Title: NOTE B | SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Atlas Public Schools has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform guidance
Expenditures reported on the schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
Title: NOTE C | INDIRECT COST RATE
Accounting Policies: Expenditures reported on the schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Atlas Public Schools has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform guidance
Atlas Public Schools has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE D | SUBRECIPIENTS
Accounting Policies: Expenditures reported on the schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Atlas Public Schools has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform guidance
There have been no awards passed through to subrecipients.