FAC Explorer

Audit 385429

FY End
2025-06-30
Total Expended
$7.17M
Findings
2
Programs
10
Organization: Matchbook Learning Schools of Indiana, Inc. (IN)
Year: 2025 Accepted: 2026-02-04
Auditor: DONOVAN PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1172378 2025-001 Material Weakness Yes G
1172379 2025-001 Material Weakness Yes G

Programs

ALN Program Spent Major Findings
81.086 CONSERVATION RESEARCH AND DEVELOPMENT $3.52M Yes 0
84.282 CHARTER SCHOOLS $1.14M Yes 0
84.425 EDUCATION STABILIZATION FUND $1.02M Yes 0
10.555 NATIONAL SCHOOL LUNCH PROGRAM $518,396 Yes 0
84.010 TITLE I GRANTS TO LOCAL EDUCATIONAL AGENCIES $451,606 Yes 1
10.553 SCHOOL BREAKFAST PROGRAM $120,762 Yes 0
84.367 IMPROVING TEACHER QUALITY STATE GRANTS $58,615 Yes 0
84.424 STUDENT SUPPORT AND ACADEMIC ENRICHMENT PROGRAM $54,422 Yes 0
84.365 ENGLISH LANGUAGE ACQUISITION STATE GRANTS $29,368 Yes 0
84.027 SPECIAL EDUCATION_GRANTS TO STATES $4,729 Yes 0

Contacts

Name Title Type
HSDKWLPJKXC7 Donald Stewart Auditee
3172264263 Jason Schultz Auditor
No contacts on file

Notes to SEFA

The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Matchbook Learning Schools of Indiana, Inc. (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 financial position, change in net assets, functional expenses, 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 School has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.

Finding Details

Finding 2025-001
FINDING 2025-001 MAINTENANCE OF EFFORT SIGNIFICANT DEFICIENCY Federal Program: Title I, Part A (84.010) Repeat Finding This is a repeat finding from the immediately prior audit report. The prior audit finding number was 2024-004. Criteria 2 CFR part 200, Appendix XI, Compliance Supplement 2020, Section 4-84.000-13, states “An LEA may receive funds under an applicable program only if the SEA finds that the combined fiscal effort per student or the aggregate expenditures of the LEA from state and local funds for free public education for the preceding year was not less than 90 percent of the combined fiscal effort or aggregate expenditures for the second preceding year, unless specifically waved.” Condition The Indiana Department of Education completes the maintenance of effort calculation using the Form 9 report issued by the School, which is a cash-basis report. Review of the School’s Form 9 found the report to be unreliable. Expenditures per the Form 9 totaled approximately $46,050,000 for the period of July 1, 2024 to June 30, 2025. Cash basis expenses per the School’s financial records totaled approximately $28,950,000. Cause The School did not report expenses in line with the guidelines set by the Indiana Department of Education. Effect Maintenance of effort calculations prepared by the Indiana Department of Education could be impacted by incorrect reporting of expense transactions. Recommendation We recommend the School develop internal controls to ensure expenses are properly reported on the Form 9 report in line with guidelines. Views of Responsible Officials The School’s Corrective Action Plan is included on pages 27 to 28.