Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Academy School District Twenty, Colorado Springs, Colorado (the District), under programs of the federal government for the year ended June 30, 2025 and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position or changes in net position of the District.
Commodities donated to the District by the United States Department of Agriculture (USDA) of $694,211 are valued based on the USDA's Donated Commodity Price List. These are shown as part of the National School Lunch Program, Assistance Listing Number 10.555.