Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the Federal grant activity of the Charter and is presented on the modified accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. The following schedule provides reconciliation between revenues reported on the Statement of Revenue, Expenditures, and Changes in Fund Balance, and the related expenditures reported on the Schedule of Expenditures of Federal Awards. The reconciling amounts represent Federal funds that have been recorded as revenues in a prior year that have been expended by June 30, 2025 or Federal funds that have been recorded as revenues in the current year and were not expended by June 30, 2025. AL Number Amount Total Federal Revenues reported in the Statement of Revenues, Expenditures, and Changes in Fund Balance $ 964,081 Title I, Part A, Basic Grants Low-Income and Neglected 84.010 (1,046) Elementary and Secondary School Emergency Relief III (ESSER III) Fund 84.425 (203,294) Total Expenditures reported in the Schedule of Expenditures of Federal Awards $ 759,741 The Charter has not elected to use the de minimis indirect cost rate of up to 15 percent.