Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents activities of the federal and state awards programs of Discovery Charter School d/b/a Jacquelyn Y. Kelley Discovery Charter School (the School). All federal financial assistance passed through other governmental agencies or other non‐profit organizations, is included in the schedule. 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 financial position, changes in net assets, 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 are not allowable or are limited as to reimbursement.
The schedule of expenditures of federal awards presents only a selected portion of the activities of the School. It is not intended to and does not present the balance sheet, revenue, 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 of governmental funds.
The School has elected not to use the 10‐percent de minimis indirect cost rate allowed under the Uniform Guidance.
No portion of the awards reflected in the accompanying schedule of expenditures of federal awards was subcontracted to other organizations.