Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of the Partnership Academy, (the School), Richfield, Minnesota. The School's reporting entity is defined in Note 1A to the School’s financial statements. 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). All federal awards received directly from Federal agencies as well as Federal awards passed through other government agencies are included on the schedule.
Expenditures reported on this schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in Cost Principles for Non-Profit- Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Pass-through entity identifying numbers, if any, are presented where available.
No federal expenditures presented in this schedule were provided to subrecipients.
During the year ended June 30, 2025, the School did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.